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.

1524 ET – Oil futures lose ground as a U.S.-mediated deal seeking to end the Israel-Hamas war in Gaza takes some geopolitical premium out of the market. “The immediate effect of the agreement was a reduction in fears of a regional escalation that could disrupt energy supply routes,” Antonio di Giacomo of XS.com says in a note. “Some analysts believe this first step could pave the way for more ambitious negotiations with Iran, adding another factor of relief to crude oil prices.” Further downside risks for crude include record U.S. production, OPEC+ output increases and continuing trade tensions that could affect demand, he adds. WTI settles down 1.7% at $61.51 a barrel, and Brent falls 1.6% to $65.2. (anthony.harrup@wsj.com)