European Gas Holds Below 33 Euros a Megawatt Hour as Markets Eye Trump-Putin Talks — Market Talk

US gasoline futures slipped to $2.063 per gallon, near their lowest since June 5, ahead of this week’s Trump–Putin summit in Alaska.

While Trump had set an August 8 deadline for a Ukraine ceasefire, he announced no new sanctions on Russia or tariffs on its energy buyers, fueling hopes the meeting could pave the way for an end to the war and greater oil supply.

Adding to pressure, OPEC+ confirmed another production increase next month, following multiple boosts this year.

Meanwhile, EIA data showed US gasoline demand eased to 9.04 million b/d in the week ending August 1 from 9.15 million in the previous week, while domestic supply fell to 227.1 million barrels from 228.4 million.

Production also slipped, averaging 9.8 million b/d.

Orsted Shares Tumble After Halting of U.S. Wind Project Sale; $9.4 Billion Rights Issue Proposal

The decision to stop the sale comes after developments in the U.S. wind market disrupted the renewable-energy company's asset sale plans.

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Vistra sees electricity demand trending like it's the 1990s, fueled by AI and crypto

Vistra Corp.'s stock rose Thursday after the power company lifted its estimate for potential profitability next year, citing the rising demand for electricity to power data centers used for artificial intelligence and the mining of cryptocurrencies.

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ConocoPhillips Posts Lower Earnings as Oil Prices Fall

ConocoPhillips's second-quarter earnings fell, hurt by lower prices that were slightly offset by higher production.

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Oil Futures End Volatile Week Lower

Oil futures ended the session near flat but with sharp weekly losses as the market digested the OPEC+ decision to raise production by another 547,000 barrels a day in September and worried about the impact of U.S. import tariffs on global growth.

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Energy & Utilities Roundup: Market Talk

Find insight on Russian exports, oil futures and more in the latest Market Talks covering Energy and Utilities.

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Blackstone Agrees to Buy Private-Equity Backed Enverus

The transaction paves the way for Genstar Capital and Hellman & Friedman to exit stakes in the energy data intelligence company.

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U.S. Crude Oil Stockpiles Fall as Imports Slip, Exports Rise

U.S. crude oil inventories fell by 3 million barrels last week as imports dropped, exports rose, and refineries raised their capacity use.

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Adnoc Gas Posts Record Earnings Despite Weaker Prices

The Abu Dhabi-owned gas company said net profit for the quarter rose 16% on the same period a year prior, setting a fresh quarterly record.

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Siemens Energy Expects Results at Upper-End of Guidance After Record Order Intake

The German maker of energy equipment reaffirmed its guidance after swinging to a net profit.

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Saudi Aramco Keeps Dividend After Profit Takes Hit From Lower Oil Prices

Aramco pumped more oil but lower prices hurt its top line as crude on average fell to $66.7 a barrel from $76.3 earlier this year.

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BP Pledges Further Cost, Portfolio Review

The London-based energy company said it would launch a new cost review and evaluate its portfolio, as it presses ahead with a plan to address investor concerns.

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BP Makes Potentially Largest Discovery in 25 Years Offshore Brazil

The energy giant said it discovered oil and gas in the deepwater Santos basin offshore Brazil as it seeks to grow global upstream production output.

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Residential Solar Industry Looks to Cut Costs as End to Tax Credits Looms

With President Trump's tax law putting an early end to solar tax credits, the residential solar industry is now looking to lower prices, particularly by cutting sky-high sales and marketing costs, according to companies and analysts.

The impact of U.S. tariffs on the gold market is likely to be limited, according to Julius Baer's Carsten Menke in a commentary. Media reports suggested that specific types of gold bars could be subjected to U.S. import tariffs, Menke notes. The tariffs might disrupt the flow of physical gold, but their impact on overall supply and demand, and therefore on spot prices, would likely be minimal, Menke says. Julius Baer sticks to its constructive view on gold, reflecting the expectation of sound safe-haven demand and sizeable central-bank buying, paired with a weaker U.S. dollar. Spot gold is down 1.15% at $3,359.95/oz. (tracy.qu@wsj.com)

OPEC+ is expected to hold its oil policy unchanged after the latest round of output hikes in September, according to UBS. "After the full unwind of one layer of its production cuts, we expect the group to hold production unchanged unless larger and lasting supply disruptions emerge," says strategist Giovanni Staunovo. Meanwhile, the group's crude exports last month were lower than in March, before member states decided to unwind their voluntary output curbs. "Hot weather in the Middle East, resulting in higher domestic consumption, and smaller effective production increases are likely important drivers of this pattern," Staunovo says. (giulia.petroni@wsj.com)

Palm Oil increased to 4383.00 MYR/T, the highest since April 2025.

Over the past 4 weeks, Palm Oil gained 0.52%, and in the last 12 months, it increased 14.59%.

Oil prices are forecast to fall to a lower level than previously expected due to strong oil production from South America, resilient output from countries sanctioned by the U.S. and expectations of larger inventory builds ahead, according to UBS. Brazil's production reached a fresh record high following a weak 2024. Meanwhile, the U.S. administration granted Chevron a license to resume operations in Venezuela and has held off on extending stricter sanctions on buyers of Russian oil other than India. Iranian production also remains at multiyear highs. UBS now sees Brent crude at $62 a barrel by the end of the year before recovering to $65 a barrel by mid-2026, compared to a previous forecast of $68 a barrel. The international oil benchmarks currently trades at $66 a barrel. (giulia.petroni@wsj.com)