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.

1509 ET – Oil futures end the week higher on a renewal of military strikes by the U.S. and Iran following attacks on tankers in the Strait of Hormuz. Gains are tempered by market expectations that the flare-up will be short-lived, as President Trump says the U.S. has agreed to continue talks although the ceasefire is over. “Some version of this outcome was becoming increasingly inevitable,” says Henry Hoffman, co-portfolio manager of the Catalyst Energy Infrastructure Fund. The Strait of Hormuz was never fully normalized, he says. “The Iranians have dragged this process out for longer than many expected, and in doing so have worsened the global inventory situation.” WTI settles down 0.9% at $71.41 a barrel for a 4% weekly gain. Brent slips 0.4% to $76.01 and is up 5.4% from last week. (anthony.harrup@wsj.com)