Oil Shows the Invisible Hand of the Market at -2-

0721 GMT - European oil stocks rise in opening trade as crude prices rebound from Friday's sharp decline. In early European trading, Brent crude for June delivery rises 5.5% to $95.34 a barrel, while WTI futures for May gain 6.1% to $89 a barrel. There have been two days of confusion as to whether the Strait of Hormuz is actually open to shipping traffic. Prices tumbled late last week after Iran said the waterway was open but the U.S later seized an Iranian-flagged ship in the Gulf of Oman. In London, Shell is up 2.3% while BP rises 2.5%. France's TotalEnergies is up 2.2%. Spain's Repsol and Italy's Eni are both up around 2.5%. ([e-mail])

--

European Gas Prices Gain Amid Conflicting Signals on Hormuz -- Market Talk

0715 GMT - European natural-gas prices rise more than 4% as tensions over the Strait of Hormuz and the U.S. seizure of an Iranian ship dent hopes for a near-term diplomatic resolution in the Middle East. The benchmark Dutch TTF front-month contract is up 4.7% to $40.60 euros a megawatt hour, after tumbling on Friday on news that passage through the Strait was open. However, Iran later said it would close the Strait again and restrict shipping until the U.S. lifts its blockade on Iranian ports. "The conflicting messages from Iran are adding to confusion, keeping the market nervous," analysts at ANZ say. Price gains, however, are limited. While Europe continues to compete with Asia for LNG cargoes to rebuild depleted gas inventories, relatively subdued demand from Asia has helped ease pressure on European supply. ([e-mail])

--

Oil Gains 5% on Hormuz Tensions, U.S. Seizure of Iranian Ship -- Market Talk

0707 GMT - Oil prices rise more than 5% as shipping through the Strait of Hormuz remains restricted and after the U.S. seized an Iranian-flagged ship over the weekend, undermining confidence in diplomatic progress. In early European trading, Brent crude for June delivery rises 5.5% to $95.34 a barrel, while WTI futures for May gain 6.1% to $89 a barrel. Both benchmarks tumbled on Friday after Iran said that transit through the strait was open for commercial traffic. "Oil prices are being whipsawed by developments in the Middle East once again, with what appears to be de-escalation quickly turning to re-escalation," analysts at ING say. U.S. negotiators are set to arrive in Pakistan later on Monday for a new round of peace talks, though Iran has so far not confirmed that it will be attending any negotiations. ([e-mail])

--

Iron Ore Prices Rise Due to Lower Inventory, Strong Demand -- Market Talk

0240 GMT - Iron ore prices are higher in early Asia trading due to lower inventory and strong demand. Production has been relatively weak, limiting inventory buildup, Zhonghui Futures analysts say in a note. Meanwhile, global demand has been quite strong thanks to improvement in the macro economic environment, they say. In the short term, prices will likely rise though they could be volatile, they add. The most actively traded September iron ore contract on the Dalian Commodity Exchange is 0.1% higher at 778.5 yuan a ton. ([e-mail]; @ivy_jiahuihuang)

--

Strait of Hormuz Developments Cast 'Worrying Shadow' Over U.S.-Iran Talks

0156 GMT - The speed at which the Strait of Hormuz situation has deteriorated over the weekend casts a "worrying shadow" over possible U.S.-Iran peace talks this week, CBA's Vivek Dhar says in a research report. With the two-week cease-fire ending Tuesday, the potential for fighting to resume can't be ruled out, the analyst says. The U.S. naval blockade currently threatens 3.8 million barrels per day of oil and refined product that transited the Strait of Hormuz in March as Iran is unlikely to permit any traffic if their shipments are blocked by the U.S., Dhar adds. Front-month WTI crude oil futures are up 5.8% at $88.68 per barrel; front-month Brent crude oil futures are 5.2% higher at $95.08 a barrel. ([e-mail])

--

Aluminum Rises Amid Supply Concerns -- Market Talk

0141 GMT - Aluminum prices rise in early Asian trade amid supply concerns. There are significant disruptions to physical flows of aluminum, as the Strait of Hormuz remains closed, ANZ Research analysts say in a note. Up to 3.5 million tons of aluminum output is at risk this year, they note. The three-month contract on the London Metal Exchange is up 0.3% at $3,574.00 a metric ton. ([e-mail])

Write to Barcelona Editors at [e-mail]

(END) Dow Jones Newswires

04-20-26 1139ET