The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.

1047 ET - Canadian energy stocks are among the few gainers on the TSX after President Trump said he believed his ceasefire deal with Iran was over and that the U.S. would likely carry out more strikes soon. The news sent the price of crude oil surging over renewed supply concerns. In lock-step, Athabasca Oil, Strathcona Resources, Cenovus Energy and International Petroleum were among the top gainers, up 5%, 3.3%, 4%, and 2.5%, respectively. Most other sectors were trading lower. (adriano.marchese@wsj.com)

1027 ET - Renewed tensions between the U.S. and Iran raise the risk of a second oil shock, which could push central banks into a more hawkish policy stance, Ryan Sweet at Oxford Economics says in a note. "Some flare-ups were inevitable, unfortunately. The question is whether this represents a bump in the road or whether we're emerging from the eye of the storm," he says. A fragile peace deal will remain the key risk for the global economy moving into the second half of the year. "If the peace deal breaks...it won't just raise oil prices; it would also increase pressure on AI supply chains in Asia, force central banks to be hawkish, tighten financial conditions, and could shift the outcome of the U.S. midterms." (don.forbes@wsj.com)

0932 ET - Dubai stocks lead most major Gulf markets lower amid concerns over the U.S.-Iran ceasefire. President Trump said he believes his ceasefire deal with Iran was over following another round of Iranian attacks on ships in the Strait of Hormuz. The sharp decline in U.A.E. and Qatari equities reflects a reassessment of geopolitical risk rather than a change in economic fundamentals, says Milad Azar, market analyst at XTB MENA. Escalating regional tensions prompted investors to reduce exposure, leading to broad-based selling across financial and blue-chip stocks, he says. The Dubai Financial Market General Index falls 1.5%, Qatar's QE Index loses 0.8% and Abu Dhabi's benchmark index drops 0.6%. (farhan.rafid@wsj.com)

0932 ET - U.S. natural gas futures are higher as overnight weather models add some heat to forecasts and tensions flare up in the Middle East. "The range-bound August contract appears to be deriving support from President Trump declaring the U.S.-Iran Memorandum of Understanding over and the resulting rise in oil and global LNG prices," Eli Rubin of EBW Analytics says in a note. Increased energy risk raises the chances of a near-term test of resistance, although little change in short-term fundamentals suggests upside will likely relent, he says. Nymex natural gas is up 0.7% at $3.288/mmBtu. (anthony.harrup@wsj.com)

0852 ET - Oil futures are higher after the U.S. and Iran renew strikes and the U.S. cancels the sanctions waiver for Iranian oil sales, while President Trump says he thinks the ceasefire is over. "The latest military exchanges raise the risk that talks will either stall or continue under much more fragile conditions," Rystad Energy's head of geopolitical analysis Jorge Leon says in a note. The move higher in oil prices shows sensitivity to any escalation around the Strait of Hormuz, he says. "Even if no sustained physical disruption materializes, uncertainty around vessel safety, insurance costs, potential delays, and the risk of further retaliation is likely to keep volatility elevated in the near term." WTI is up 4.1% at $73.34 a barrel and Brent is 4.2% higher at $77.26 a barrel. (anthony.harrup@wsj.com)

0824 ET - Markets could face higher volatility for the remainder of 2026 as oil prices rise and supply falls, Algebris Investments' Gabriele Foa says in a note. Renewed U.S.-Iran attacks and President Trump's announcement that the Iran ceasefire is over raise fresh concerns about a potential oil-supply shock. Higher oil prices, lower global oil supply and renewed instability in interest rates could cause markets to be more volatile, Foa says. (miriam.mukuru@wsj.com)

0609 ET - Spanish energy major Repsol could increase its full-year share buyback if refining margins remain strong, Berenberg analysts write following the company's trading update. Repsol's update shows that margin strength continues into the third quarter, they say. Market watchers already expect Repsol to increase its buyback to around 1.1 billion euros from an initial guidance of 700 million euros, the analysts write. Confirmation of an increase alongside its quarterly results would be positive, they say. Shares are up 3.8% at 22.86 euros. (adam.whittaker@wsj.com)

0533 ET - Sterling falls as risk sentiment weakens after President Trump said the ceasefire with Iran was over following fresh strikes between the two sides. "For me, I think the deal is over, I don't want to deal with them anymore," Trump told reporters at a NATO summit in Ankara on Wednesday. Trump's remarks came after the U.S. and Iran traded blows Tuesday, ignited by Iranian attacks on ships near the Strait of Hormuz. Sterling falls 0.2% to a one-week low of $1.3319, according to LSEG. The euro rises 0.2% to an intraday high of 0.8555 pounds, having hit a one-year low of 0.8531 Tuesday.(renae.dyer@wsj.com)

0505 ET - European energy stocks rise as oil gains on President Trump's comments that the ceasefire deal with Iran is over. Brent crude rises 4.7% to $78.42 a barrel, while WTI futures are up 5.9% to $74.61 a barrel after climbing more than 6% shortly before. In London, BP rises 3.45%, while Shell is up 1.6%. France's TotalEnergies is up 3%, Spain's Repsol rises 4%, and Italy's Eni gains 3.7%. Norway's Equinor rises 4%.(adam.whittaker@wsj.com)

0459 ET - Bitcoin extends its losses after President Trump said the ceasefire with Iran is over following renewed attacks between the two sides. Speaking at the Nato summit in Ankara, he said as far as he was concerned "it's over" and it was a waste of time dealing with Iran. Trump's comments add pressure on bitcoin which was already weaker after the U.S. struck sites along Iran's coast and blocked its ability to sell oil legally on Tuesday while Iran responded with counterattacks. Bitcoin falls 2.5% to an intraday low of $61,836, according to LSEG.(renae.dyer@wsj.com)

0458 ET - A selloff in U.S. and eurozone government bonds accelerates after U.S. President Trump says the ceasefire with Iran is over. Yields had already hit four-week highs earlier in response to military escalation between the U.S. and Iran. Trump's announcement push yields up further as oil prices also increase, with Brent rising 5% to $77.89. The 10-year U.S. Treasury yield rises 4.8 basis points to 5.577% while the 10-year German Bund yield rises 8 basis points to 3.064%, according to Tradeweb. (emese.bartha@wsj.com)

0454 ET - Oil prices jump after President Trump said he believed his ceasefire deal with Iran is over. In midmorning trade, Brent crude rises 4.7% to $78.42 a barrel, while WTI futures are up 5.9% to $74.61 a barrel after climbing more than 6% shortly before. Trump's remarks came after the two sides exchanged strikes and the U.S. revoked a waiver allowing Tehran to sell oil. The oil market's forward curve has also strengthened, with the front end moving back into backwardation, which occurs when futures with near-term deliveries are marketed at a premium over longer-dated contracts. The shift indicates traders are once again willing to pay a premium for immediate crude supplies, reflecting renewed concerns over potential supply disruptions and stronger prompt demand. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

July 08, 2026 10:47 ET (14:47 GMT)

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