The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0957 GMT - Yields on U.K. government bonds rise faster than their eurozone and U.S. equivalents. Rising oil prices have sparked renewed concerns about inflation, which could prevent the Bank of England from cutting interest rates. "The British economy is highly sensitive to energy prices," Swissquote's Ipek Ozkardeskaya says in a note. The BOE is expected to keep rates unchanged in a decision at 1200 GMT. Meanwhile, U.K. money markets price in a 60% probability of the BOE raising interest rates in June, LSEG data show. "The higher energy prices climb, the further away the dream of a BOE cut drifts," Ozkardeskaya says. U.K. 10-year gilt yields rise 6.5 basis points to 4.816%, Tradeweb data show. (miriam.mukuru@wsj.com)
0953 GMT - European energy stocks trade higher as oil prices surge on supply fears and attacks on energy infrastructure in the Middle East. Brent Crude is up nearly 10% to $118.01 a barrel, while WTI rises 2.3% to $94.56 a barrel. Iranian missiles caused damage to Qatar's Ras Laffan Industrial City, prompting President Trump to warn that the U.S. will "blow up the entirety" of an Iranian gas field if Qatari gas is attacked again. Iran has also threatened attacks which could have "uncontrollable consequences, the scope of which could engulf the entire world." Norway's Equinor climbs 8%. Britain's BP rises 2.8%, while Harbour Energy is up 4.4%. France's TotalEnergies trades 2% higher, while Italy's Eni ticks up 1.5%. Spain's Repsol gains around 1%. (adam.whittaker@wsj.com)
0921 GMT - Threatened strikes on key energy facilities in Saudi Arabia, the UAE, and Qatar could push oil prices past $120 a barrel immediately, according to Rystad Energy. The five facilities warned by Iran together account for roughly 20% of global LNG trade, up to 10% of Asia-Pacific naphtha imports, and more than 6% of global polyethylene capacity--all concentrated in a region with few near-term alternatives. "If statements from Iran's Tasnim news agency come to fruition, with facilities in Saudi Arabia, UAE and Qatar all hit, at least 700,000 barrels per day of refined product capacity would be removed from global markets overnight, hitting diesel, jet fuel and naphtha supply simultaneously across three countries," analysts at Rystad say. Oil could even reach $150 a barrel or higher if critical infrastructure such as Saudi Arabia's Yanbu port is hit, the firm says. (giulia.petroni@wsj.com)
0831 GMT - Tackling volatile energy prices in Europe is a top priority, Belgian Prime Minister Bart De Wever tells reporters in Brussels ahead of a European Union leaders' summit. "Energy prices is a top priority," he says. "It was already before the war in the Middle East, the absolute top priority of my agenda, and I think European agenda, and this has become all the more present, urgent, after the events that we have been witnessing in the Middle East," he says. "Prices were too high, and this war has, of course, created another spike in the prices, and if that becomes structural, we're in deep trouble." (edith.hancock@wsj.com)
0828 GMT - Attacks on key Middle Eastern energy facilities are reshaping how markets assess the risk profile of liquefied natural gas. "Duration is the dominant variable," Jefferies analysts say. "Over time, higher prices could slow demand growth among some price‑sensitive buyers and alter how buyers assess long‑term LNG investment decisions." Because LNG infrastructure is slow to restart, even brief outages immediately tighten supply and create longer-lasting ripple effects. Near-term scarcity is also undermining expectations of a global LNG glut. "The current disruption has removed material volumes and injected uncertainty around the timing of future supply," the analysts say. (giulia.petroni@wsj.com)
0827 GMT - London's mining stocks slide in opening trade as precious metal prices fall. Gold futures are down 3.2% to $4,741.10 a troy ounce as the Iran war causes the dollar to rise and diminishes the prospect of interest-rate cuts in the near term. A stronger dollar makes dollar-denominated commodities more expensive for overseas buyers while lower borrowing costs typically support non-yielding assets like gold. Meanwhile, silver futures tumble 7.5% to $71.755 an ounce. Precious metal miners Fresnillo, Hochschild Mining and Endeavour all trade down more than 5%. Diversified miner Anglo American is down nearly 5% with Rio Tinto down 3.5%. Commodities giant Glencore falls 2.8%. (adam.whittaker@wsj.com)
0824 GMT - Yields on U.K. 10-year government bonds climb to a 6.5-month high amid inflation concerns as Brent crude oil futures rose 6.4% to $114.30 a barrel. The Bank of England is expected to leave interest rates on hold at 3.75% in a decision at 1200 GMT. However, investors are pricing in the risk of the U.K. central bank raising rates in the coming months due to fears that high energy costs will push up inflation. Ten-year gilt yields jumped to 4.835%, the highest level since September 2025, and last trade at 4.809%, up 6 basis points on the day, Tradeweb data show. (miriam.mukuru@wsj.com)
0818 GMT - The euro trades steady against the dollar ahead of the European Central Bank's policy decision where rates are expected to stay on hold. If ECB President Christine Lagarde is "particularly hawkish," hinting at possible rate increases if higher energy-price feed through into inflation, this could temporarily calm the euro's recent decline, says Danske Bank's Filip Andersson says in a note. However, Danske still favors selling the euro versus the dollar and holds a tactical short position, targeting a fall to $1.12, the co-head of fixed income and FX research says. The euro last trades at $1.1448. (emese.bartha@wsj.com)
0803 GMT - The Bank of Japan has signaled its willingness to hike rates again soon, says Capital Economics' Marcel Thieliant in a note. A slim majority of the board members reckon the Middle East conflict will, on balance, strengthen inflationary pressures in Japan. Gov. Kazuo Ueda noted that higher energy prices could lift inflation expectations and pose a headwind to activity by worsening the terms of trade. The trade-weighted exchange rate has also fallen to new lows in recent weeks, adding more pressure on goods inflation, he says. (amanda.lee@wsj.com)
0758 GMT - Malaysia's export growth is expected to remain supported by key products, despite moderation in February, with electrical and electronics demand driven by AI, 5G and electric vehicles components, Kenanga economists say in a note. Global semiconductor sales are expected to stay strong, supporting Malaysia's semiconductor ecosystem, while higher crude oil and liquefied natural gas prices may support the domestic mining sector, they say. Exports are projected to grow 5.1% in 2026, easing from 6.4% in 2025. Risks include external shocks like U.S. trade policy uncertainty, geopolitical tensions and supply-chain disruptions, they flag. GDP growth is forecasted at 4.5% this year, supported by domestic demand, though heightened external risks may weigh on the outlook. (yingxian.wong@wsj.com)
0725 GMT - The dollar rises, alongside U.S. Treasury yields, to reflect yet another jump in oil prices. The DXY dollar index, which measures the dollar against a basket of currencies, is up 0.1% at 100.208, while Brent crude last trades at $113.55 per barrel, close to its intraday high of $114.08. "We emphasize that rising global energy prices and tighter global financial conditions would both be supportive factors for the broad U.S. dollar," Danske Bank's Filip Andersson says in a note. U.S. Treasury yields also rise, with the 10-year yield up 2.8 basis points at 4.281%, according to Tradeweb. The Federal Reserve left interest rates on hold on Wednesday, as expected, and Chair Jerome Powell said little to suggest rate cuts were on their way. (emese.bartha@wsj.com)
0703 GMT - Oil prices could stay at an elevated level for some time, Phillip Nova's Priyanka Sachdeva says in a note. Brent continues to soar amid escalating attacks on oil infrastructure and vessels in the Gulf and has added over 10% in the last couple of sessions, the senior market analyst notes. "Escalation in the Middle East, precise attacks on oil infrastructure, and the death of Iranian leadership all point to a prolonged disruption in oil supplies," she says. Front-month WTI crude oil futures are 1.1% higher at $97.36/bbl; front-month Brent crude futures are 6.0% higher at $113.88/bbl. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
March 19, 2026 05:57 ET (09:57 GMT)
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