Global Energy Roundup: Market Talk

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

0732 GMT - Oil prices climb more than 2% after President Trump rejected Iran's truce proposal, keeping the geopolitical risk premium elevated. In early European trading, the front-month Brent crude contract, which expires on Tuesday, is up 2.8% at $107.15 a barrel, while the second-month contract trades at $99.15 a barrel. The U.S. oil gauge WTI rises 2% to $94.21 a barrel. "Rejection of a settlement supports prices because disruption risk remains unresolved, while evidence that significant volumes are still moving prevents the market from pricing a complete supply shutdown," says Naeem Aslam from Zaye Capital Markets. The diplomatic path toward reopening the Strait of Hormuz and resuming discussions over Iran's nuclear program remains highly uncertain. Meanwhile, tightening physical-market conditions are intensifying inflation risks and reviving debate over potential export curbs. (giulia.petroni@wsj.com)

0723 GMT - Yields on U.K. government bonds, or gilts, edge higher and remain at elevated levels after President Trump rejected Iran's ceasefire proposal on Friday, reviving Middle East tensions. The absence of a breakthrough in the U.S.-Iran conflict is driving up oil prices and adding to inflation concerns. Front-month Brent crude rises 2.3% to $106.7 a barrel. Ten-year gilt yields rise 0.9 basis points to 5.399%, Tradeweb data show, having climbed to a one-week high of 5.414% on Friday. (miriam.mukuru@wsj.com)

0710 GMT - Eurozone government bond yields open slightly lower but they potentially face a challenging week as oil prices remain elevated and issuance will be heavy. High oil prices increase prospects of further interest-rate rises, while supply is due from Belgium on Monday, Netherlands and Italy on Tuesday, Germany on Wednesday and Spain and France on Thursday. "The bond markets remain in a precarious state," Commerzbank rates strategist Rainer Guntermann says in a note. "Rebounding oil prices, [European Central Bank President Christine] Lagarde's testimony today, and this week's data and supply could exacerbate the current nervousness," he says. The 10-year German Bund declines 0.2 basis points to 3.619%, according to Tradeweb. (emese.bartha@wsj.com)

0704 GMT - Investors raise their bets on the Bank of England increasing interest rates in November as oil prices advance. The absence of a breakthrough in the U.S.-Iran conflict is causing oil prices to climb, raising concerns about high inflation. Brent crude rises 2.3% to $106.7 a barrel. Markets price in an 81% chance of a BOE rate rise at the next policy meeting in November, up from a 62% probability a week ago, LSEG data show. (miriam.mukuru@wsj.com)

0653 GMT - Bitcoin falls as renewed geopolitical concerns and expectations for further U.S. interest-rate rises dampen appetite for risky assets. U.S. officials said President Trump rejected a proposal for a seven-day ceasefire and told aides he expects to resume bombing Iran after the November midterms, The Wall Street Journal reports. For bitcoin, the Middle East conflict, higher oil prices and inflation concerns push yields higher and pressure speculative and long-duration assets, Zaye Capital Markets analyst Naeem Aslam says in a note. Recent strong U.S. data support the case for further rate rises, also weighing on bitcoin, he says. Bitcoin falls 1.7% to $83,108, having earlier hit a one-week low of $82,773, LSEG data show. (renae.dyer@wsj.com)

0640 GMT - The dollar rises as hopes for U.S.-Iran diplomacy fade, lifting oil prices and driving investors towards safe-haven assets. U.S. officials said President Trump rejected a proposal for a seven-day ceasefire and told aides he expects to resume bombing Iran after the November midterms, WSJ reports. Higher oil prices support the dollar as the U.S. is a net oil exporter. The dollar is also lifted by expectations that the Federal Reserve could raise interest rates further. The U.S. nonfarm payrolls report on Friday will prove key for these expectations. The DXY dollar index rises 0.2% to 101.181. (renae.dyer@wsj.com)

0522 GMT - U.S. Treasury yields rise on the day pressured by higher oil prices, trading close to but below recent multiyear highs, as U.S.-Iran peace talks stall. Peace negotiators are pressing Iran to make a concession on its nuclear program to revive ceasefire talks with the U.S. after President Trump rejected Iran's truce proposal. The two-year Treasury yield rises 4.4 basis points to 4.907%, the 10-year Treasury yield rises 2.8 basis points to 5.208%, while the 30-year Treasury yield is up 1.7 basis points at 5.518%, according to Tradeweb. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

September 28, 2026 03:32 ET (07:32 GMT)