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DJ Global Energy Roundup: Market Talk

· 02/08/2021 01:02

The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.

0602 GMT - Oil extends gains in the afternoon Asian session amid optimism toward the reopening of the U.S. economy driven by the vaccination of the domestic population as well as by fiscal stimulus measures. Oil traders appear to be taking an optimistic view of the U.S. reopening narrative, Axi says. WTI crude oil climbs 1.1% to $57.48/bbl after earlier touching $57.56/bbl--the highest intraday level since January 2020--while Brent crude is up 1.0% at $59.95/bbl after hitting $60.06/bbl, also the highest since January last year, according to FactSet. (ronnie.harui@wsj.com)

0538 GMT - BHP could cut net debt to US$7.95 billion at the end of FY 2021, suggesting the miner will have US$4 billion-US$9 billion to put to capital management come August, Citi says. The bank tips net debt at US$12 billion when BHP reports its 1H earnings next week, the bottom of the miner's US$12 billion-US$17 billion target range. Citi lifts the target on its London-listed stock to GBP21.00/share from GBP20.00. In Sydney, BHP ended 2.4% higher at A$44.84/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

February 08, 2021 01:02 ET (06:02 GMT)

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