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

0902 ET - Oil futures pull back from earlier highs as the market ponders whether strikes between the U.S. and Iran point to a resumption of the war. The market appears unconvinced by President Trump's comments that Iran reached out to make a deal after the latest U.S. attacks, Peter Cardillo of Spartan Capital says in a note. "This situation is likely to keep prices elevated, though significant upward movement may be limited." WTI is up 0.6% at $73.95 a barrel and Brent is gaining 0.8% to $78.65.(anthony.harrup@wsj.com)

0620 ET - Palm oil ended lower. Prices are likely to stay range-bound in the near term, according to Hualian Futures in a research note. Investors are closely monitoring developments in the Middle East, as Trump's recent comments signaled renewed tension between U.S. and Iran. Production of palm oil in Malaysia has been solid in June, they note. The Bursa Malaysia Derivatives contract for September delivery falls 15 ringgit to 4,594 ringgit a ton. (tracy.qu@wsj.com)

0339 ET - London's miners rise in opening trade after sliding Wednesday following President Trump saying a ceasefire deal with Iran was over. This caused oil prices to jump and revived inflation fears, hitting sentiment and dragging on gold prices. On Thursday, gold prices climb back above $4,100 a troy ounce after Wednesday's selloff, with New York futures up 0.7% to $4,112.10. Gold and silver miner Hochschild Mining rises 3% while peers Fresnillo and Endeavour Mining both increase around 2%. Diversified mining stocks also rise. Glencore and Anglo American climb roughly 3%. Copper miner Antofagasta gains around 3.8%.(adam.whittaker@wsj.com)

0253 ET - Gold prices climb back above $4,100 a troy ounce after Wednesday's selloff, with New York futures up 0.6% to $4,107.90. The rebound is supported by a softer U.S. dollar and renewed geopolitical tensions in the Middle East after the U.S. and Iran exchanged strikes again on Wednesday. Still, higher energy prices could complicate the inflation outlook, reinforcing expectations that the Federal Reserve will keep rates higher for longer or increase them further. Bullion is typically seen as a hedge ​against inflation, though a higher ​interest-rate environment tends ⁠to diminish the nonyielding asset's appeal. Minutes from the Fed's mid-June policy meeting underscored a hawkish shift across the committee, weighing on the precious metal. "The minutes reaffirm that the door is very much wide open to a September interest rate hike," says Thomas Ryan from Capital Economics. (giulia.petroni@wsj.com)

2247 ET - Palm oil rises in early Asian trade, driven by stronger crude oil prices, PhillipCapital says in a note. Higher crude prices could support CPO prices as stronger energy prices increase palm oil's attractiveness as a biofuel feedstock. Recent ringgit weakness could also provide some support, making Malaysian palm oil more competitive for overseas buyers, it adds. PhillipCapital expects prices to face resistance at 4,700 ringgit a ton and find support at 4,433 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is up 4 ringgit at 4,613 ringgit a ton. (yingxian.wong@wsj.com)

2244 ET - Iron ore rises in early Asian trade, with the most-traded iron ore contract on the Dalian Commodity Exchange up 0.3% at 745.50 yuan a ton. The surge in shipments earlier this year is largely subsided due to seasonal easing in July, Nanhua Futures analysts say in a commentary. Meanwhile, declining steel mill profits in China have led to production cuts, reducing hot metal output, and leading to near-term weakness in supply and demand. Prices are expected to be supported by improving market sentiment across the ferrous metals complex, keeping trade range-bound, Nanhua adds. (jason.chau@wsj.com)

2140 ET - Copper prices are higher in early Asian trade, supported by expectations that the U.S. will phase in copper import tariffs instead of imposing them immediately, Zhongtai Futures analysts write in a note. Renewed geopolitical risks after President Trump said the temporary ceasefire with Iran had ended lifted energy prices and revived inflation concerns, limiting room for industrial metals to rise, they say. Demand has entered the seasonal lull with inventory drawdowns remaining modest, they add. Copper is likely to remain rangebound in the near term amid mixed macro and fundamental signals, they say. The three-month LME copper contract is up 0.7% at $13,257.00 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

2056 ET - Gold is flat in Asian trade amid renewed fighting in the Middle East and after the Federal Open Market Committee's latest minutes. American military forces launched new strikes on Iran Wednesday night, according to the U.S. Central Command, hours after President Trump announced the end of an eight-week ceasefire. The Fed's June meeting minutes released Wednesday also indicated a hawkish hold, says Societe Generale in a note. Still, a more immediate July rate hike is less likely given the largely muted June U.S. jobs report, it adds. Nonyielding assets such as gold are typically weighed by a higher interest-rate environment. Spot gold holds steady at $4,074.24 a troy ounce. (megan.cheah@wsj.com)

2053 ET - Copper will likely struggle to rally through the Northern Hemisphere summer, as fears of potential U.S. tariffs fade, Citi says. The bank had previously forecast rising copper prices through June, but that failed to materialize after the Fed's surprise hawkish pivot, it says. "That said, we see positive price catalysts re-emerging from September including a more dovish Fed, greater focus on tighter copper physical market dynamics in 2027, and the structural medium-term bullish backdrop," says Citi. The bank expects copper to average $14,500/metric ton in 4Q. LME 3-month copper is up 0.6% at $13,248/ton. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

Heavy hogs have been a factor keeping pressure on U.S. pork prices, according to USDA data, with the last Hogs and Pigs report from the USDA showing slight increases to heavier weight pigs. But hotter temperatures seen in much of the U.S. Corn Belt may prove to ease that problem, says StoneX in a note. "Much warmer than normal temps sticking around for at least another two weeks may wind up helping the industry correct the carcass weight problem that's developed over the past couple months," says the firm. Lean hog futures jumped 2.9% to 99.7 cents a pound, while live cattle futures fell 0.3% to $2.37775 a pound. (kirk.maltais@wsj.com)

1521 ET - U.S. natural gas futures remain stuck in a tight range as solid weather-driven demand is met with ample supply. The domestic balance "has not yet tightened enough to force a clear breakout," Gelber & Associates says in a note. Warmer weather forecasts keep power-sector use as the main demand driver, while renewed Middle East premium keeps LNG export demand in focus, the firm adds, but production remains firm and storage is "still acting as the main cushion against a more aggressive rally." Nymex natural gas settles down 1.6% at $3.212/mmBtu. (anthony.harrup@wsj.com)

1512 ET - Oil futures pull further away from pre-war levels as strikes resume between the U.S. and Iran and the U.S. cancels its sanctions waiver to allow for the sale of Iranian oil following Iran's attacks on tankers in the Strait of Hormuz. "This is bullish for the near term," Phil Flynn of the Price Futures Group says in a note. "With Iranian barrels now facing renewed restrictions, supply risks are back on the table, supporting prices even as global markets digest other factors." WTI settles up 4.4% at $73.52 a barrel after edging above $76, and Brent gains 5.2% to $78.02 after briefly returning to $80 a barrel. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

July 09, 2026 09:15 ET (13:15 GMT)

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