The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0207 GMT - High oil prices are expected for longer, three members of Goldman Sachs' commodities research team say in a note. GS now assumes that flows through the Strait of Hormuz stay at only 5% of normal levels for a longer six-week period before a gradual one-month recovery. Also, recognition of the risks from high production concentration and spare capacity will likely result in structurally higher strategic stockpiling and long-dated prices, the members say. GS now expects 2026 Brent prices to average $85 a barrel, up from $77 a barrel projected previously, and WTI to average $79 a barrel, up from $72 a barrel forecast previously. Front-month Brent crude futures are 0.1% lower at $112.12 a barrel; front-month WTI crude futures are 0.4% higher at $98.65 a barrel. (ronnie.harui@wsj.com)
2341 GMT - Oil futures edge lower as traders eye President Trump's deadline to reopen the Strait of Hormuz. Trump on Saturday threatened to "hit and obliterate" Iran's power plants if the country doesn't reopen the Strait in the next two days. "Reluctant diplomacy and the potential for ground troops could exacerbate the situation," Barclays Commodities Research's Amarpreet Singh says in a research report. "Attacks on energy infrastructure highlight the risk of compounding effects of sustained damage to the region's supply outlook on energy prices," the analyst adds. Front-month WTI crude oil futures are down 0.3% at $97.97 per barrel; front-month Brent crude oil futures are 0.4% lower at $111.78 a barrel. (ronnie.harui@wsj.com)
2207 GMT - Investors seeking to gain more exposure to the energy industry should consider buying stock in Duratec, says Shaw & Partners. Duratec is building a high-growth, high-margin energy services platform. It aims to capture structural demand across Australia's A$5 billion energy infrastructure maintenance, remediation, and decommissioning market, Shaw says. "The Energy segment is now one of Duratec's most profitable divisions, delivering FY25 revenue growth of 77% and sustaining 29% gross margins into 1H26," analyst Philip Pepe says. "Recent world events improve the outlook." Shaw has a A$2.40/share price target on Duratec, which ended last week at A$2.33. (david.winning@wsj.com; @dwinningWSJ)
2125 GMT - Bonds have generally followed movements in oil prices over the past week, but the pair are starting to decouple, says ANZ Bank. Fixed income markets have sold off sharply, it says. While the sell-off was originally concentrated at the front end, long-end yields are now following suit, ANZ says. The yield on the UK 10-year gilt rose to its highest level since 2008. The change comes amid a clear shift in investor expectations regarding the impacts and duration of the conflict in Iran, ANZ says.(james.glynn@wsj.com; X @JamesGlynnWSJ)
2121 GMT - Jefferies's price targets on Ampol and Viva Energy rise after Australia's government resets the Fuel Security Services Payment. Payment now starts at A$0.10 per liter, equivalent to around US$11.10 a barrel. That's higher than 6.4 Australian cents per liter, or US$7.22 per barrel, on offer before. Analyst Michael Simotas says the change is positive but probably won't be needed, given a very strong refining backdrop. "More important, it reinforces crucial importance of Australia's last two refineries to fuel security and positions Viva and Ampol well to negotiate favorable long-term solution," Jefferies says. It sees a path to something like a regulated return on refinery capital, which would be positive for valuations. Jefferies's price target for Ampol rises 14% to A$36.50/share, and lifts 16% to A$2.20/share for Viva. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 22, 2026 22:07 ET (02:07 GMT)
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