Energy & Utilities Roundup: Market Talk
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The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1512 ET – Oil futures bounce back from a three-session slide on resumed military strikes after Iran fired missiles at U.S. targets in Jordan. The return of fighting reduces optimism for talks to settle the conflict. “Irreconcilable differences over commercial transit rights and sovereignty in the Strait of Hormuz quickly restored the geopolitical risk premium,” Gelber & Associates says in a note. Houthi attacks on Red Sea shipping and ongoing OPEC+ production shortfalls “reinforced expectations of tighter physical balances,” the firm adds. WTI settles up 6.6% at $84.46 a barrel and Brent rises 7.9% to $90.74 a barrel.([email protected])
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