The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0853 GMT - The euro could stay weaker against the dollar this week as a swift end to the Middle East conflict looks unlikely, keeping energy prices elevated, Commerzbank's Volkmar Baur says in a note. President Trump announced Monday that the U.S. would postpone attacks against Iranian energy infrastructure for five days following constructive talks but Iran denied such discussions took place. The postponement shifts the focus to Saturday, Baur says. The risk premium in the oil market that was priced out Monday is therefore likely to slowly build again over the course of the week unless there's positive news on talks, or if it becomes clear that ships can pass through the Strait of Hormuz, he says. The euro falls 0.2% to $1.1592. (renae.dyer@wsj.com)
0847 GMT - European natural-gas prices fall, with the benchmark Dutch TTF front-month contract down 1.6% to 55.78 euros a megawatt-hour after a sharp drop in the previous trading session. "Global gas prices came under pressure on the potential de-escalation of hostilities in the Middle East," ANZ analysts write. However, "the selloff was less severe, given that recent damage to infrastructure in the region will have a lasting impact on supply." Meanwhile, the European Union has called on member states to start filling gas storage early to ensure proper refilling for the next heating season. "Starting storage injections as early as possible would allow us to benefit from a longer injection period and adapt to market circumstances to mitigate pressure on prices and avoid end-of-summer rush," Energy Commissioner Dan Jorgensen said. (giulia.petroni@wsj.com)
0839 GMT - China Aviation Oil (Singapore) could post a modest net profit growth this year on higher costs and likely flat associate contributions, CGS International analysts write in a note. The brokerage forecasts the company's 2026 net profit to expand 4% to US$115 million. China Aviation Oil reported a 42% jump in 2025 net profit. The jet-fuel trader is likely to maintain an expansion in gross margin, though could be offset by rising procurement and freight costs. Associate contributions is expected to remain flat, as higher inventory capacity may be offset by weaker refueling volumes if oil prices remain high throughout the year. CGSI maintains an add rating on the stock, but raises the target price to S$2.68 from S$2.63. Shares are 3.7% lower at S$2.08. (amanda.lee@wsj.com)
0827 GMT - Copper prices fall back below the $12,000 mark due to concerns over the impact of the Iran war on global economic growth and inflation. "Copper, a bellwether for the global economy, has been under pressure as the Middle East conflict has sapped risk appetite across financial markets," ANZ analysts write. Three-month futures on the London Metal Exchange are down 1.9% to $11,982.50 a metric ton after rising in the previous trading session, when President Trump said the U.S. would postpone strikes on Iranian energy infrastructure and signalled progress in talks. (giulia.petroni@wsj.com)
0825 GMT - Yields on U.K. government bonds fall as concerns about an energy supply shock ease after the U.S. postponed attacks on Iranian energy plants. Investors remain cautious due to uncertainty surrounding the conflict. "Obviously much now depends on the progress of any talks, and whether the more optimistic rhetoric is followed up by concrete action," Deutsche Bank strategists say in a note. Ten-year gilt yields fall 2 basis points to 4.914%, reversing Monday's rise when they hit a near 18-year high of 5.118%, Tradeweb data show. (miriam.mukuru@wsj.com)
0811 GMT - The flip-flopping of U.S President Trump, "saying one thing one moment and then something completely different the other," while at the same time nothing is corroborated by other concerned parties, is creating confusion and pandemonium for financial markets, analysts at First Abu Dhabi Bank say in a note. Coupled with the deteriorating war environment, this leaves conflicting stories which are triggering wild swings in financial asset prices, the analysts say. "While we remain optimistic that common sense--and military de-escalation--will prevail in the near-term, we are also cognisant that the mixed and often incoherent messaging coming from the Oval Office, will only fuel continued market volatility," they say. (emese.bartha@wsj.com)
0740 GMT - President Trump's move to postpone strikes on Iranian energy infrastructure and power plants for five days provides relief for oil-and-gas markets, DBS Group Research analysts write in a note. The latest development underlines a fragile and highly volatile potential pivot in the monthlong conflict between the U.S.-Israeli alliance and Iran. Trump also cited "very good and productive conversations" toward a total resolution of hostilities. "This marks a sharp shift in rhetoric from his recent 48-hour ultimatum to 'obliterate' those same targets if the Strait of Hormuz remained closed," DBS says. (amanda.lee@wsj.com)
0738 GMT - Oil prices rebound following a 10% drop in the previous trading session, with The Wall Street Journal reporting that U.S. allies in the Persian Gulf are moving closer to joining the fight against Iran. In early trade, Brent crude gains 2.5% to $102.43 a barrel, while WTI is up 2.9% to $87.85 a barrel. Crude benchmarks plunged on Monday after President Trump postponed strikes on Iranian energy infrastructure following what he described as "productive" talks with Tehran. Iran denied holding negotiations with the U.S., but confirmed that mediation efforts were underway by other nations. "The market reaction likely reflects some retreat in the perceived risks of lengthy disruptions and of damage to energy assets," Goldman Sachs analysts write. However, severe disruptions persist, with flows through the Strait of Hormuz largely halted. (giulia.petroni@wsj.com)
0714 GMT - President Trump's claim of "very good and productive" negotiations with Iran signals his attempt at de-escalation, according to Pepperstone's Michael Brown. After Trump said Washington and Tehran held conversations, Iran denied them, but "whether or not talks have taken place is somewhat immaterial," the research strategist says in a note. The move signals that Trump has reversed the ultimatum issued over the weekend and seems to be pursuing de-escalation for the first time since the conflict began. "We might finally be seeing a faint chink of light at the end of the tunnel when it comes to the ongoing Middle East conflict." (sherry.qin@wsj.com)
0647 GMT - It's too early to get too optimistic about 'peace deals' in the Middle East getting baked in the next couple of days as demands of both sides still seem unbridgeable, Macquarie's Thierry Wizman and Gareth Berry say in a note. "It's far-fetched to imagine the U.S. dropping its demands pertaining to Iran's nuclear assets, or that the U.S. would just leave its bases in the Gulf," the global strategists say. It is also far-fetched to see Iran dropping support for its proxy armies at this stage, they say. That said, "the war is unlikely to last beyond mid-April because Iran's threats are likely to be neutralized by then." But once neutralized, the U.S. will have the upper hand in any negotiations that ensue, they say. (emese.bartha@wsj.com)
0623 GMT - U.S. Treasury yields rise in Asian trade as oil prices rise again and uncertainties regarding the resolution of the Middle East war linger despite President Trump's signal to de-escalate the war soon. Yields rise faster at the short end of the curve, suggesting that investors are more worried about the potential inflationary impact of the war than about growth risks. Money markets currently price in no changes in the Federal Reserve's fed funds target range, according to LSEG data. The two-year Treasury yield rises 6.8 basis points to 3.897%, while the 10-year yield is up 4.4 basis points at 4.379%, according to Tradeweb. (emese.bartha@wsj.com)
0516 GMT - Energy shortage may not be a big concern for China in the near term, Nomura analysts say in a research note. Coal still accounts for more than half of China's domestic energy mix and provides a reliable domestic energy backstop, they say, adding that Beijing could ramp up domestic coal production in the coming weeks. China's resilient renewable energy expansion also strengthens its resilience, they add. China's limited fuel price hike also shows Beijing's efforts to cushion the oil price shock, they say. China's top economic planner announced a price hike of 1,160 yuan a ton for gasoline and 1,115 yuan a ton for diesel, which is around half the increase from a regular pricing mechanism, the analysts add.(sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 24, 2026 04:53 ET (08:53 GMT)
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