Global Energy Roundup: Market Talk

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

0709 GMT - Bitcoin falls as a selloff in chip stocks and concerns about the U.S.-Iran conflict dampen risk appetite. Chip stocks in the U.S. and Asia slumped amid growing concerns over artificial-intelligence spending. President Trump told Axios Monday that he paused strikes on Iran to allow for negotiations but could return to expanded military action if talks fail. Investors are also looking ahead to the Federal Reserve's policy decision on Wednesday where money markets price a 64% chance that interest rates will be held steady and a 36% chance of a 25 basis-point rate rise, according to LSEG. Bitcoin drops 2.1% to $63,508, LSEG data show. (renae.dyer@wsj.com)

0659 GMT - Delta Electronics (Thailand)'s margins may widen gradually, but cost pressures could stay high, CGS International's Thanapol Jiratanakij says in a research report. The electronics products manufacturer expects gross margin to improve sequentially from 3Q as inventory provisions fall and production normalizes, the analyst notes. Also, management expects the company's internally developed products to account for a larger share of revenue in 2H, which should improve the sales mix. However, raw material costs linked to products such as printed circuit boards remain elevated. The brokerage cuts its 2026-2028 core EPS forecasts for the company by 1.7%-15.5%. It lowers the stock's target price to 245.00 baht from 253.00 baht, with an unchanged reduce rating. Shares last closed at 285.00 baht. (ronnie.harui@wsj.com)

0658 GMT - Oil prices extend losses as a lull in U.S.-Iran hostilities spurred diplomatic efforts, with Iran and Oman seeking an agreement to reopen the Strait of Hormuz. The front-month Brent crude contract slides 2.3% to $86.31 a barrel after settling 8.7% lower in the previous session, while WTI falls 2% to $80.93 a barrel. Prices were also weighed down by reports that the Caspian Pipeline Consortium terminal resumed pipeline loading operations following a week-long suspension. Despite the selloff, supply risks remain elevated. Saudi Arabia said it intercepted drones launched by Iran-backed militias in Iraq targeting oil facilities. Meanwhile, Persian Gulf oil flows have dropped to 41% of prewar levels, while Red Sea shipments fell by more than 3 million barrels a day over the past week as Saudi Arabia rerouted some exports via the Suez Canal and Russia sharply reduced Red Sea shipments, according to Goldman Sachs. (giulia.petroni@wsj.com)

0658 GMT - Eurozone government bond yields fall in early trade, tracking declines in U.S. Treasury yields as oil prices continue to slip amid efforts to find a solution to the conflict in the Middle East. On Tuesday, the Netherlands and Italy will conduct government bond auctions, while the economic data calendar is light ahead of a flurry of key indicators, including flash estimate inflation for July and first estimate GDP for the second quarter later in the week. The 10-year Bund yield falls 2.1 basis points to 3.105%, according to LSEG. (emese.bartha@wsj.com)

0650 GMT - The dollar eases slightly amid uncertainty over the U.S.-Iran conflict and following renewed calls for interest-rate cuts from President Trump. Trump told Axios Monday that he paused strikes on Iran to allow for negotiations but could return to strong military action if talks fail. Trump separately called for lower rates again during a session with reporters on Air Force One and said Federal Reserve Chair Kevin Warsh will "do the right thing." The Fed is expected to keep rates steady Wednesday. The DXY dollar index falls 0.1% to 101.493 after reaching a four-week high of 101.573 overnight. (renae.dyer@wsj.com)

0622 GMT - Murata Manufacturing is likely to keep its dominant market share in next-generation multilayer ceramic capacitors, Nomura's Manabu Akizuki says in a research report. The analyst cites the difficulty of manufacturing MLCCs, the widening gap in yields between the Japanese electronic components manufacturer and its rivals, and tough quality requirements, including for effective electrostatic capacitance. Nomura lifts its forecasts for on-year growth in Murata Manufacturing's capacitor sales to 22.9% from 12.3% for this fiscal year, to 23.8% from 13.4% for next fiscal year, and to 9.8% from 8.1% for fiscal year ending March 2029. The brokerage raises the stock's target price to 9,000 yen from 6,000 yen with an unchanged buy rating. Shares are 12% lower at 7,113 yen. (ronnie.harui@wsj.com)

0553 GMT - U.S. Treasury yields decline in Asian trade as oil prices also move lower, both extending Monday's moves. Higher demand for U.S. Treasurys--which causes prices to rise and yields to fall--and the decline in oil prices come as U.S.-Iran diplomacy aimed at a short-term solution in the Middle East war has accelerated. The reaction in the bond market to declining oil prices has so far been modest but given the uncertainty surrounding the war in the Middle East, "the bond market seems to be careful in 'correcting' too much," Danske Bank's Joel Rossier says in a note. The two-year Treasury yield falls 1.7 basis points to 4.305%, while the 10-year yield declines 1.1 basis points to 4.630%, according to Tradeweb data. (emese.bartha@wsj.com)

0545 GMT - Star Petroleum Refining may benefit from high gross refining margins and other tailwinds, says ttb wealth securities' Yupapan Polpornprasert in a report. The Singapore GRM, which is a key benchmark in the oil refining industry, has been stronger than the brokerage expected. According to a media report, the Middle East conflict has kept 4.5 million barrels per day of refining capacity, which is roughly 5% of global capacity, offline, supporting tight global refined product markets through year-end. The Thai company's major 1Q turnaround maintenance and plant upgrade has also led to operational improvements. The brokerage raises the stock's target price to 12.50 baht from 8.50 baht with unchanged buy rating. Shares last closed at 10.70 baht. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 28, 2026 03:09 ET (07:09 GMT)