KKR, Blackstone Sign $16 Billion Kuwait Oil Deal -- Commodities Roundup

--Brent crude oil is down 5.7% to $91.22 a barrel. --European benchmark gas is down 6.7% at 59.41 euros a megawatt-hour. --Copper futures are up 1.2% at 13,771 a metric ton. --Gold futures are up 0.4% to $4,087.80 a troy ounce. TOP STORY: KKR, Blackstone Sign $16 Billion Kuwait Oil Deal The companies that manage Kuwait's oil sector signed a $16 billion lease agreement with a group of investors led by Blackstone, Brookfield and KKR KKR 3.53%increase; up pointing triangle. The deal comes after President Trump said earlier this month that he reversed his Strait of Hormuz tariff plan following talks with Middle Eastern countries to invest more in the U.S. Kuwait Petroleum Corp., the state-owned firm overseeing the sector, and its subsidiary Kuwait Oil Co., which explores and produces oil on behalf of the state, both signed the deal. OTHER STORIES: Oil Sinks After U.S. Pauses Iran Strikes, Reviving Hopes for Diplomacy Oil prices plunged more than 5% on Monday after the U.S. paused military strikes against Iran, raising the prospect of renewed diplomatic efforts to end the five-month long conflict. The front-month Brent crude contract, which expires at the end of the month, plunged 5.5% to $91.44 a barrel in early trading, while the second-month contract fell 4.6% to $87.47 a barrel. U.S. benchmark West Texas Intermediate declined 5.1% to $84.76 a barrel. -- Baker Hughes Shares Gain After 2Q Earnings Beat Shares of Baker Hughes rose after the company posted higher-than-expected profit and revenue during the latest quarter. The stock climbed 2.3%, to $58.57, in premarket trading Monday. Through Friday's close, shares are up more than 21% year to date. -- Expand Energy to Acquire Twin Eagle for $1.25B Expand Energy has agreed to acquire Twin Eagle for $1.25 billion. The natural gas conglomerate said Monday it would buy the private natural gas marketing business from Five Point Infrastructure. The deal is slated to close in the third quarter. MARKET TALKS: Oil Futures Pull Back on Break in U.S.-Iran Fighting -- Market Talk 0903 ET - Oil futures start the week lower after the U.S. put on hold plans to step up the military escalation against Iran. The pullback looks "corrective and largely related to speculative profit-taking," Ritterbusch & Associates says in a note. Tension in the Middle East hasn't eased significantly, and the possibility of further escalation remains, the firm adds. "Even if a resumption of talks is successful in reopening the Strait [of Hormuz], it is apparent that Iran could again close the waterway unless they are given at least partial control of it." WTI is down 5.7% at $84.18 a barrel and Brent is off 6.2% at $90.78.(anthony.harrup@wsj.com) -- Copper Rises After U.S.-Iran Pause Fighting, Chile Storm Disruption -- Market Talk 1213 GMT - Copper prices rise in afternoon trading as a pause in fighting between the U.S. and Iran pushes oil lower, easing concerns over inflation pressures and global economic growth. Three-month futures on the London Metal Exchange are up 1.2% to $13,769.50 a metric ton. Focus in recent weeks has been on potential new U.S. import tariffs and Chinese demand. "In China, the premium paid for imported copper over local supplies in China rose to $100 a ton, up from $20 a ton in late January, a sign of strong demand," ANZ analysts say. "The market is also bracing for the possibility that the Trump administration imposes levies on imports of copper, which continues to attract increasing volumes of metal into the U.S." Meanwhile, a deadly storm in Chile disrupted production at major copper mines, adding further supply concerns. (giulia.petroni@wsj.com) -- European TTF Gas Down 6% on U.S.-Iran Fighting Pause -- Market Talk 0819 GMT - European gas prices tumble on hopes that a pause in fighting between the U.S. and Iran could pave the way for renewed diplomatic efforts and restore flows of liquefied natural gas. The benchmark Dutch TTF contract is down 6.2% to 59.70 euros a megawatt-hour, though it remains more than 46% higher on the month. Europe is facing a challenging race to secure LNG supplies as Qatar's export restrictions coincide with stronger Asian demand and above-average temperatures driving higher gas consumption. With storage levels at 54%, well below the five-year seasonal average of 70%, markets are concerned that Europe could struggle to rebuild inventories ahead of the winter heating season. (giulia.petroni@wsj.com) -- Gold Rises as U.S. Pauses Iran Strikes, With Focus on Fed Speech -- Market Talk 0734 GMT - Gold prices rise after the U.S. paused military strikes against Iran, sending Brent crude below $90 a barrel and easing concerns over inflationary pressures. In early European trading, New York gold futures are up 0.9% t $4,107.10 a troy ounce. "The easing in geopolitical tensions has reduced inflation concerns and could lessen pressure on the Fed to tighten policy further, providing near-term support for gold ahead of this week's closely watched Fed meeting," says Soojin Kim, analyst at MUFG. With a hold largely priced in, investors will focus on Fed Chair Kevin Warsh's remarks for clues on the policy outlook and the likely path of interest rates for the remainder of the year.(giulia.petroni@wsj.com) -- Galp Energia Could Be Preparing for Sale of Solar and Wind Portfolio -- Market Talk 0757 GMT - Portuguese energy company Galp Energia could be taking the first step toward selling its solar and wind portfolio, RBC Capital Markets analyst Biraj Borkhataria writes. Galp is buying 15 onshore wind farms in Spain in a 420-million-euro deal. It follows the acquisition of another portfolio in April in a 320-million-euro deal. Galp previously held a predominantly solar portfolio and the wind acquisitions could be the first step to selling the entire portfolio, he says. This is because the combination of wind and solar would likely achieve a better valuation than a solar-only portfolio, Borkhataria says. Shares fall 3.6% to 19.31 euros. (adam.whittaker@wsj.com) -- European Energy Stocks Slide as Oil Falls on Paused Military Escalation -- Market Talk 0749 GMT - European energy stocks fall in opening trade after President Trump paused a major escalation in the military campaign against Iran. The U.S. military had been ready Friday to launch an intensive series of strikes against Iran, which could have lasted up to two weeks, officials said. The pause and renewed focus on diplomacy sends Brent crude futures sliding 5.8% to 86.37 a barrel while WTI drops 3.9% to $76.25 a barrel. In London, BP falls 3.5% and Shell slips 1.8%. France's TotalEnergies falls 2.7%, Spain's Repsol is down 2% while Italy's Eni drops 4%. Portugal's Galp, which also reported second-quarter results Monday, was down 4.6%.(adam.whittaker@wsj.com) -- Galp Energia Favors Dividend Growth -- Market Talk 0729 GMT - Portuguese energy company Galp Energia hikes its dividend in a shift away from share buybacks, RBC Capital Markets analyst Biraj Borkhataria writes. The company made no changes to its buyback guidance. The 10% dividend hike accelerates recent growth following a 4% rise last year and 3% the year before, he adds. The company has completed over 90% of its 250 million euro buyback program for 2026, which suggests there will be limited share repurchases in the second half of the year, Borkhataria says. Overall, the group's second-quarter performance was in line with expectations but divisional performance was mixed, he says. Shares fall 3.9% to 19.25 euros. (adam.whittaker@wsj.com) -- Comex Gold Futures Likely Consolidating Above $4,000 Per Ounce, Chart Shows -- Market Talk 0717 GMT - Comex gold futures are likely consolidating above $4,000 per ounce, RHB Retail Research's Joseph Chai says in a note. While the futures posted a bullish candlestick pattern on the daily chart last Friday, the commodity closed below the 20-day simple moving average on that day, the analyst notes. Also, both 20- and 50-day simple moving averages continue trending downward, putting downside pressure on the commodity, Chai says. Meanwhile, the $4,200-per-ounce level remains immediate resistance and is capping the futures' upward movement, he adds. Spot gold is 1.2% higher at $4,100.78 per ounce. (ronnie.harui@wsj.com) -- Iron Ore Steady; Likely to Trade Rangebound -- Market Talk 0239 GMT - Iron ore is flat in Asian trading, fluctuating between gains and losses. Prices are expected to be rangebound for now as markets await key macro events such as China's Politburo meeting and the U.S. Federal Reserve meeting, Nanhua Futures writes in a note. The most-traded iron ore contract on the Dalian Commodity Exchange is flat at 743.0 yuan a ton. (kimberley.kao@wsj.com) Write to Barcelona Editors at barcelonaeditors@dowjones.com (END) Dow Jones Newswires July 27, 2026 09:36 ET (13:36 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.

KKR, Blackstone Sign $16 Billion Kuwait Oil Deal -- Commodities Roundup

公司的其他新闻