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

1057 ET - Qatar leads most major Gulf stock markets higher, extending a broadly positive week for regional equities, while the S&P GCC Investable index is up 4.5% month-to-date. Iran and Oman have outlined a temporary framework to restore shipping through the Strait of Hormuz, with around 40 vessels passing through over the weekend as talks continue toward a more permanent corridor. Qatar's QE Index rises 0.7%, the Dubai Financial Market General Index gains 0.6% and Saudi Arabia's Tadawul All Share Index adds 0.3%, though Abu Dhabi's benchmark index slips 0.3%. (farhan.rafid@wsj.com)

0944 ET - Bank of America upgrades First Abu Dhabi Bank to buy from neutral, saying the lender's earnings growth and return potential aren't reflected in its current valuation. BofA expects about 8% compound annual EPS growth through 2028 and return on tangible equity of 17%-18%, supported by government-related lending, funding strength, pricing discipline and fee-income growth. It raises its price objective 10% to AED23.20, implying around 18% upside. Geopolitical risk remains the main swing factor, but First Abu Dhabi Bank's domestic franchise, sovereign-linked activity and balance-sheet strength provide buffers, BofA says.(farhan.rafid@wsj.com)

0937 ET - U.S. natural gas futures are higher with several more weeks of hot weather likely to drive cooling demand, along with a pickup in LNG feedgas flows. "The 1-15 day weather forecast may vie for the hottest on record," Eli Rubin of EBW Analytics says in a note. September options and contract expirations today and tomorrow will guide near-term price moves, but as October moves to the front of the curve "medium-term likelihood for a moderate rally may be accelerated due to searing heat, soft production, and returning LNG export demand," he adds. The Nymex September contract is up 2.4% at $2.837/mmBtu.(anthony.harrup@wsj.com)

0900 ET - The slide in oil futures extends into a third session with renewed moves seen toward a reopening of the Strait of Hormuz after the U.S. outlined tighter economic sanctions on Iran. The oil market had been "seriously spooked" by the announcements of new measures a week earlier, but "breathed a sigh of relief at the Treasury's rather modest measures and began to unwind their long positions in Brent in line with the 'buy the rumor, sell the fact' principle," FxPro chief market analyst Alex Kuptsikevich says in a note. "The selloff then continued against the backdrop of a de-escalation of the conflict in the Middle East." WTI is down 2.4% at $80.39 a barrel and Brent is off 2.5% at $86.38.(anthony.harrup@wsj.com)

0846 ET - Siemens Energy could increase shareholder returns after separating its Transformation of Industry division, Jefferies analysts write. The German energy equipment maker said it was preparing to spin off the unit while keeping a "meaningful minority stake." "We see the move favorably, refocusing the business on higher growth & margin gas and grids' segments," the analysts say. Jefferies has a buy rating on the stock and 215.00 euro target price. Shares are down 0.5% at 151.94 euros. (ian.walker@wsj.com)

0830 ET - Siemens Energy's plan to separate its transformation of industry unit isn't a surprise given previous reports that the company was considering options for the division, Citi analysts write. They add that while no timeline has been provided by the German energy equipment maker, they expect it to take some time. Citi values the business at 8.6 billion euros. The analysts add that while portfolio streamlining is sensible, they don't see any material financial benefit from a separation of the unit, and expect investors to focus on the company's gas and grid divisions. Citi has a neutral rating on the stock and 185.00 euro target price. Shares are down 0.5% at 151.96 euros. (ian.walker@wsj.com)

0751 ET - Metal miners' stocks rise in London as copper prices hold near record highs. Higher copper prices are the result of markets adjusting for potential U.S. import tariffs next year, AJ Bell's Russ Mould writes. Copper trades flat at $14,385 a metric ton. Gold and silver slip but remain elevated, with gold contracts down 0.4% at $4,675.50 a troy ounce while silver contracts fall 0.2% to $68.52 an ounce. Hochschild Mining leads the sector, rising 7.3% after posting strong first-half earnings. Antofagasta adds 2.8%, while Fresnillo and Endeavour Mining jump 1.4% and 1.2%, respectively. Anglo American adds 1.1%.(josephmichael.stonor@wsj.com)

0700 ET - Palm oil fell during the Asian trading session. Sentiment was likely weighed by overnight weakness in rival soy oil, profit taking following a recent rally and concerns over softer August export demand, Kenanga Futures write in a note. AmSpec data showed palm oil exports fell 11% on month for the Aug. 1-25 period. However, expectations of lower palm oil production and ongoing supply risks could help cushion further downside, it adds. The Bursa Malaysia Derivatives contract for November delivery fell 93 ringgit to 4,853 ringgit a ton. (kimberley.kao@wsj.com)

0643 ET - Moves in crude oil prices are an important influence on the euro as the eurozone is an oil importer, Monex analysts say in a note. "With the Strait of Hormuz disruption the euro's principal vulnerability this year, an overnight slide in crude on ceasefire reports is a welcome terms-of-trade tailwind for the bloc," Monex analysts say in a note. The euro falls 0.1% against the dollar to $1.1664 but rises against other major currencies, including sterling and the Swiss franc. (emese.bartha@wsj.com)

0502 ET - The U.S. dollar could weaken further against the Chinese yuan over the coming months, ING's Chris Turner says in a note. The dollar has weakened sharply versus the yuan since the middle of last week. However, the pace of depreciation could slow going forward, Turner says. The Chinese central bank could be displeased over the pace of renminbi gains recently, he says. In addition, the U.S. announcement about possible sanctions on Chinese entities with ties to Iran could affect the yuan's strength, he says. "Our base case assumes a gently offered dollar environment and dollar/yuan edging lower towards 6.70 over the coming months." The dollar is last at 6.7202 yuan, having traded just above 6.74 at the start of last week, LSEG data show. (miriam.mukuru@wsj.com)

0402 ET - Investors slightly cut back expectations of the Bank of England increasing interest rates in 2026 as oil prices retreat. Talks between Iran and Oman about reopening the Strait of Hormuz have helped oil prices to drop, calming inflation fears. The price of Brent crude falls 2.9% to $86.03. Markets current price in a total of 23 basis points of BOE rate rises by year end, down 2 basis points from Tuesday's pricing, LSEG data show. (miriam.mukuru@wsj.com)

0353 ET - Orsted's stabilizing execution and project delivery is a first step toward a return to growth, Citi analyst Jenny Ping writes. The competitive landscape now seems more rational and government support is improving, which should deliver better project return rates, the bank says. With around 20-25 gigawatts of viable tenders over the next 18 months, most with improving auction frameworks that better align with industry cost structures, the Danish renewable-energy company has substantial scope to deliver profitable growth, it says. "In our view, shares currently reflect little value for the unsecured pipeline, investors are effectively receiving a free growth option." Citi upgrades Orsted stock to buy from neutral and lifts its target price to 165 Danish kroner from 142 kroner. Shares rise 1.6% to 141.58 kroner.