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

0921 ET - U.S. natural gas futures are losing ground on a combination of factors from lower risk of August heat to drive power-sector demand to a break in U.S. military strikes on Iran that sends oil and European natural gas prices lower. Soft LNG feedgas and higher production add to a weaker outlook, Eli Rubin of EBW Analytics says in a note. "While Texas heat may offer short-term support, waning temperatures along the Gulf Coast and Southeast may subdue upside price risks." Nymex natural gas is off 2.8% at $2.791/mmBtu.(anthony.harrup@wsj.com)

0919 ET - Bitcoin rises slightly on improved risk appetite following a pause in hostilities between the U.S. and Iran. President Trump has delayed a major escalation in the military campaign against Iran amid efforts to revive diplomacy, The Wall Street Journal reports, citing U.S. officials. Meanwhile, crypto hoarding firm Strategy said Monday that it made no new bitcoin purchases last week. Investors are also eyeing developments on the U.S. Clarity Act after Republicans unveiled an updated version of the crypto regulation bill last week. Bitcoin rises 0.5% to $64,929, LSEG data show. (renae.dyer@wsj.com)

0903 ET - Oil futures start the week lower after the U.S. put on hold plans to step up the military escalation against Iran. The pullback looks "corrective and largely related to speculative profit-taking," Ritterbusch & Associates says in a note. Tension in the Middle East hasn't eased significantly, and the possibility of further escalation remains, the firm adds. "Even if a resumption of talks is successful in reopening the Strait [of Hormuz], it is apparent that Iran could again close the waterway unless they are given at least partial control of it." WTI is down 5.7% at $84.18 a barrel and Brent is off 6.2% at $90.78.(anthony.harrup@wsj.com)

0859 ET - Treasury yields drop from recent highs as Fed week starts with a pause in hostilities between the U.S. and Iran. Oil prices fall sharply while the WSJ Dollar Index slips less than 0.1%. June durable goods orders rise 0.3%, missing WSJ consensus of a 2.1% increase. The Fed is expected to remain on hold Wednesday, but uncertainty is higher than usual. Futures markets price 34% odds of a rate increase, according to CME. The 10-year yield is at 4.647%, down from Friday's 4.678% settle. The two-year drops to 4.320% from 4.328%. (paulo.trevisani@wsj.com; @ptrevisani)

0813 ET - Copper prices rise in afternoon trading as a pause in fighting between the U.S. and Iran pushes oil lower, easing concerns over inflation pressures and global economic growth. Three-month futures on the London Metal Exchange are up 1.2% to $13,769.50 a metric ton. Focus in recent weeks has been on potential new U.S. import tariffs and Chinese demand. "In China, the premium paid for imported copper over local supplies in China rose to $100 a ton, up from $20 a ton in late January, a sign of strong demand," ANZ analysts say. "The market is also bracing for the possibility that the Trump administration imposes levies on imports of copper, which continues to attract increasing volumes of metal into the U.S." Meanwhile, a deadly storm in Chile disrupted production at major copper mines, adding further supply concerns. (giulia.petroni@wsj.com)

0755 ET - Markets lower their expectations of the Bank of England increasing interest rates in the coming months as oil prices fall. The U.S. and Iran paused attacks over the weekend, after two weeks of exchanging fire, causing oil prices to fall. Brent crude is last down 7.8% at $89.2 a barrel. Lower energy prices ease inflation concerns and reduce the possibility of rapid central-bank rate rises in the coming months. Investors currently price a total of 36 basis points of BOE rate rises in 2026, 11 basis points lower than Friday's pricing, LSEG data show. (miriam.mukuru@wsj.com)

0743 ET - Centrica's half-year results are a temporary setback and not a change to its story, AlphaValue analyst Pierre-Alexandre Ramondenc says in a research note. The British Gas owner is steadily investing cash into more stable businesses, including regulated energy assets, renewables and customer technology, the analysts say. This makes earnings more predictable over time and leaves room for the shares to gain value relative to peers, the analysts add. There is scope for Centrica to evolve toward a more diversified, RWE-like utility company, they add. Shares trade 0.6% lower at 162.05 pounds. (nina.kienle@wsj.com)

0740 ET - The message from July's Ifo business-climate index is moderately supportive of German economic activity strengthening, echoing last week's PMI data, S&P Global Market Intelligence economist Timo Klein says in a note. The increase in the index to 86.6 in July from 85.7 in June was the third consecutive rise, driven by stronger expectations, though assessments of current conditions fell a little. Still, most survey responses were likely submitted before last week's sharp jump in oil prices, Klein says. "Our mid-July forecast puts German GDP growth at 0.6% for 2026 and 1.0% for 2027, up 0.2 percentage points from June." That reflects June's larger-than-expected oil-price fall, though continued volatility in the Middle East warrants caution, he says. (edward.frankl@wsj.com)

0730 ET - The dollar could resume appreciating if the Federal Reserve surprises markets with an interest-rate rise on Wednesday, MUFG Bank's Lee Hardman says in a note. "We have been assuming that the Fed would leave rates on hold this week but one can't completely rule out the possibility of a rate hike," he says. A rate rise would send a powerful signal that Fed Chair Kevin Warsh is serious about improving the central bank's inflation fighting credibility at the start of his term, he says. The DXY dollar index falls 0.2% to 101.316. (renae.dyer@wsj.com)

0728 ET - The significant increase in the Ifo German business-climate survey is only of limited significance since most companies answered the survey before the massive oil-price increase of the last two weeks, Commerzbank's Joerg Kraemer says in a note. The index rose to 86.6 in July, from 85.7 in June. Most companies usually respond to the Ifo survey by the middle of the month, he says. The road looks bumpy ahead, and high energy prices are set to weigh on the German economy in the second half of the year. However, the increase at least shows the potential for economic recovery if the U.S. and Iran reach an agreement and the Strait of Hormuz is permanently opened, he says. (edward.frankl@wsj.com)

0538 ET - U.S. Treasury yields fall and the dollar retreats as markets react to an easing in the Middle East tensions, as President Trump's pause of strikes on Iran cause oil prices to slide. "The apparent de-escalation dragged oil prices lower, tempering inflation concerns," says Tapaas' Jonathan Squires in a note. "A sustained decline in crude prices could further ease inflationary pressures and soften monetary policy expectations." On Wednesday, the Federal Reserve is expected to keep rates on hold, although markets anticipate a hike in September, according to LSEG. The 10-year Treasury yield falls 4.3 basis points to 4.636%, according to Tradeweb. The DXY dollar index falls 0.2% to 101.264. (emese.bartha@wsj.com)

0523 ET - The cost of insuring euro-denominated credit against default declines as market sentiment improves after the U.S. and Iran pause hostilities. The pause has offered relief to markets and reduced the possibility of a near-term escalation in the conflict, Tickmill Group's Patrick Munnelly says in a note. The iTraxx Europe Crossover index of euro high-yield credit default swaps falls 8 basis points to 258bps, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)

(END) Dow Jones Newswires

July 27, 2026 09:21 ET (13:21 GMT)

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