Energy & Utilities Roundup: Market Talk

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.

0937 ET - Markets are pricing in about a 64% chance the Fed will hold rates steady later today, but investors will be watching closely for any signals from Chairman Kevin Warsh on the path of monetary policy ahead. After cooler-than-expected June inflation data, volatile energy prices tied to tensions in the Middle East have re-escalated concerns about resurgent inflation. Warsh has indicated that the Fed will restore price stability and the central bank has no tolerance for inflation above its target. The question is whether the committee will act soon on these inflationary pressures or wait for more evidence that inflation is cooling. (jessica.coacci@wsj.co)

0934 ET - Procter & Gamble is expecting to take a $1 billion hit to earnings this year due to high gas prices. The projection is based on an estimate that the Brent crude oil price will be $90 a barrel, given the ongoing war with Iran, executives tell analysts on a call. Along with high fuel costs, P&G says it is also dealing with freight and trucking surcharges, supplier inflation and extra non-commodity costs tied to the conflict. P&G estimates EPS will fall 5% or more year-over-year in F1Q, with the majority of cost impacts happening in the first half of its new fiscal year. Procter & Gamble falls 4% in early trading.(katherine.hamilton@wsj.com)

0832 ET - Oil futures are back on the rise as the U.S. and Iran resume military strikes following a pause, again dimming hopes for a negotiated solution to the conflict. "Prolonging this war will deepen damage to vital oil facilities, whether in the Gulf states or in Iran, which cannot be reversed through negotiations and could require months or even years to repair," Samer Hasn of XS.com says in a note. That could keep oil prices relatively high for an long period, he adds. "Extreme and unlikely scenarios could become reality as the war's timeframe extends." WTI is up 6.6% at $84.51 a barrel and Brent is 6.9% higher at $89.93. (anthony.harrup@wsj.com)

0406 ET - Italian energy major Eni's strong operational performance continues, RBC Capital Markets analyst Biraj Borkhataria writes. Its second-quarter results are relatively strong, the analyst says after the company posted a 12% beat to net income consensus expectations. Oil and gas production is 3% above market views while the unit's earnings are broadly in line, he writes. Eni's global gas & LNG, Enilive and Plenitude divisions all come in ahead of consensus, he says. Some of this is offset by higher corporate charges, he adds. Shares rise 4.6% to 23.02 euros. (adam.whittaker@wsj.com)

0341 ET - Asian equities are seeing a rotation away from tech, Tickmill Group's Patrick Munnelly says in a research note. SK Hynix's shares ended 9.6% lower despite reporting stellar earnings, sending the Kospi 6.0% lower. Taiwan and Japan, the other two markets with heavy semiconductor exposure, fell 3.8% and 1.5%, respectively. Chip makers have "moved from market darlings to volatility transmitters over the past month," as Asian leadership has shifted toward consumer discretionary, financials, and energy, Munnelly says. While the AI story hasn't disappeared, the market's tolerance for disappointment has collapsed, he says. (sherry.qin@wsj.com)

0325 ET - Spanish utility Endesa is raising its full-year guidance for adjusted earnings on strength in its integrated-electricity and gas-unit margins, RBC Capital Markets' Fernando Garcia and Charlotte Mettyear say in a research note. The company now expects net ordinary profit of more than 2.4 billion euros this year, up from its previous guidance range of 2.3 billion to 2.4 billion euros. "It looks like the company will continue enjoying strong electricity integrated margin on gradually passing on to customers the increase in ancillary service costs and gas unit margin on the increase in the TTF," the analysts say, referring to the benchmark contract for European gas prices. Shares rise 2%. (adria.calatayud@wsj.com)

2235 ET - Viva Energy's bulls at UBS say the Australian fuel refiner and retailer is finally entering an earnings upgrade cycle. With an unchanged buy rating on the stock, the investment bank's analysts tell clients in a note that first-half Ebitda was about 10% above consensus on beats from both its industrial and convenience divisions. They view Viva Energy's strategic pivot toward refurbishing many retail filling stations as self-serve 24-hour outlets as a prudent step that reduces its capital-expenditure burden and probably improves returns in the current economic environment. UBS lifts its fiscal 2026 EPS forecast by 8% and raises its target price 3.7% to 2.80 Australian dollars. Shares are up 3.6% at A$2.745. (stuart.condie@wsj.com)

2159 ET - Woodside Energy's second-quarter performance isn't quite as strong as it looks at first glance, Morgans analyst Adrian Prendergast notes. He says that about half the 14% beat relative to June-quarter consensus revenue expectations can be attributed to increased marketing activity, which he points out in a note is typically low margin. The key driver of the remaining beat stems from growth in sales volumes rather than production, he adds. The Australian energy producer's output looked healthy but Prendergast doesn't see anything to materially change is view. Morgans has a last-published hold rating on the stock and a target price of 33.40 Australian dollars. Shares are up 0.7% at A$32.53. (stuart.condie@wsj.com)

1521 ET - Oil futures extend their slide to three sessions as the pause in U.S. strikes on Iranian targets keeps alive expectations for a return to negotiations and a reopening of the Strait of Hormuz. Disputes over control of the strait has been at the center of the recent flare-up. "For now the market is pricing a temporary calm," Phil Flynn of the Price Futures Group says in a note. "Any credible path toward de-escalation and freer flows through Hormuz would ease one of the biggest risk premiums hanging over crude." WTI settles down 4.1% at $79.26 a barrel, and Brent falls 4.8% to $84.09. (anthony.harrup@wsj.com)

1434 ET - Gold and silver prices settle lower, as sentiment improves thanks to a lull in fighting between the U.S. and Iran. Petros Pantzari of Monaxa says easing tension is "draining the geopolitical risk premium from markets, helping push Brent and gold lower as traders unwind both supply-disruption fears and defensive safe-haven positions." Crude oil is down around 5%. Front-month gold settles off 0.9% to $4,036.30 a troy ounce, while silver finishes 2% lower at $57.296/oz. (kirk.maltais@wsj.com)

1349 ET - Oil futures steepen losses as the market clings to hopes for talks with the break in military strikes holding. "There's enough signaling that hostilities are on pause for now," says John Kilduff of Again Capital. "I think there's a realization that military operations aren't necessarily the best way to go here, and the U.S. squeezing Iran economically has gotten currency again." Some oil has been getting out of the Persian Gulf, and there's a lot of supply that can come onto the market, he says. "That's why we keep seeing these pullbacks on any ray of hope." WTI is down 4.3% at $79.10 a barrel and Brent is off 5% at $83.92.(anthony.harrup@wsj.com)

(END) Dow Jones Newswires

July 29, 2026 12:20 ET (16:20 GMT)