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

1128 GMT - Oil prices rise for a second consecutive day after the U.S. widened sanctions on Iran and President Trump softened his tone on both China and the Federal Reserve. Brent crude and WTI trade 1% higher at $68.08 and $64.31 a barrel, respectively. The latest round of sanctions against an Iranian liquefied petroleum gas magnate and his network marks a step-up in Washington's "maximum pressure" campaign, as LPG is a major source of revenue for Tehran, according to analysts. Prices are also supported by Trump saying he isn't planning to fire Fed Chair Jerome Powell and that tariffs imposed on China would come down substantially. Meanwhile, reports citing the American Petroleum Institute ahead of official EIA figures show U.S. crude oil inventories fell by around 4.6 million bar*rels last week. (giulia.petroni@wsj.com)

0907 GMT - European natural-gas prices rise, recouping some losses incurred in Tuesday's session. The benchmark Dutch TTF contract is up 0.9% at 34.56 euros a megawatt hour. Gas prices fell 1.5% in the prior session as storage continued to build. Gas inventories are 37% full after bottoming out at less than 34% in late March, ING analysts say in a note. However, storage levels are still currently below last year's levels and lower than average, ING says. The European Union is reportedly discussing a potential ban on spot purchases of Russian gas to help reduce reliance on Russian fossil fuels. Possible actions to be taken are expected to be presented on May 6 to EU members, ING adds. (joseph.hoppe@wsj.com)

0906 GMT - CATL remains at the forefront of battery technology, which will help the Chinese battery maker maintain its industry-leading position, Bernstein analysts write in a note. The company says its new Shenxing battery can achieve a charging speed of 2.5 kilometers per second, outpacing BYD's 10C charging technology. Charging speeds have more than doubled compared with a year earlier and increased tenfold over the past three to four years, Bernstein says. The key to successful commercialization of this latest technology depends on the development of fast-charging infrastructure, it adds. Bernstein maintains an outperform rating on the stock with a target price of CNY340. Shares closed at CNY233.35. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

0818 GMT - Oil prices rise, with Brent crude up 1.5% at $68.45 a barrel and WTI up 1.55% at $64.66 a barrel. Brent crude had slid below $65 a barrel after the U.S. announced reciprocal tariffs and OPEC+ accelerated supply hikes, and remains down 5.2% on-month, ANZ Research analysts say in a note. That said, while the prospect of slowing demand is dragging down market sentiment, high-frequency market indicators are pointing to seasonal demand strength, ANZ writes. Improving margins on the crack spread--the price difference between crude oil and refined products like gasoline and heating oil--are supporting U.S. and China refinery operating rates, while U.S. jet fuel demand is above prepandemic levels, ANZ says. Overall, ANZ keeps a neutral outlook on oil prices. (joseph.hoppe@wsj.com)

0802 GMT - There are signs that American companies are racing to build up on European inventory before the re-imposition of sweeping import tariffs, Pantheon Macroeconomics' Melanie Debono writes in a note. According to closely-watched surveys of the private sector set out Wednesday, French manufacturing production expanded this month, a surprise amid a general downturn in business activity. New orders fell back, but that was largely due to a fallback in domestic demand, the surveys show. "This suggests some kind of tariff front-running as firms across the Atlantic in particular get orders in before any incoming rise in U.S. trade tariffs at the end of the quarter," Debono says. (joshua.kirby@wsj.com; @joshualeokirby)

0544 GMT - Investors seem concerned about the impact which U.S. tariffs could have on Frencken Group's earnings, CGS International's William Tng says in a research report. An estimated 9% of the technology solutions provider's products are exported to the U.S. from Singapore, though its customers are currently bearing the bulk of the tariffs where applicable, the analyst says. The Singapore-listed company's automotive segment could face more challenging conditions given the higher costs the industry has to bear amid the evolving tariff situation, the analyst says. Frencken Group's valuation could fall to one standard deviation below its average five-year price-to-earnings, the analyst adds. The brokerage lowers the stock's target price to S$1.15 from S$1.40 and maintains an add rating. Shares are 1.0% lower at S$1.00. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 23, 2025 07:28 ET (11:28 GMT)

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