The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1115 ET - Stock markets in the Gulf Cooperation Council countries end mixed. Investors remain cautious about the Iran war, especially in the oil-and-gas producing states. Egyptian authorities said Thursday that an explosion at a port on Egypt's Mediterranean coast was caused by a drone attack in a new threat to a vital energy corridor. Qatar stocks fall 0.9% and the Dubai Financial Market General Index slips 0.1%. Saudi Arabia's Tadawul All Share Index and Abu Dhabi's benchmark index each gain 0.4%. Despite Thursday's advance, the Saudi benchmark index ends July down about 2% from June, marking its fourth consecutive monthly decline. (farhan.rafid@wsj.com)

0917 ET - Crude oil futures are giving back some of the previous day's gains after the U.S. launched strikes against Iranian targets overnight. The pullback seems related to profit-taking after yesterday's big oil price rise, Ritterbusch & Associates says in a note. "Sustainability of this price downdraft is questionable given the continued strength in the WTI and Brent spread curves." The Brent front month could soften ahead of Friday's expiration more on positioning than any loosening in European crude supplies, the firm adds. WTI is down 0.4% at $84.13 a barrel and Brent is down 0.6% at $90.17.(anthony.harrup@wsj.com)

0554 ET - European indexes turn increasingly positive as the trading day progresses as oil prices pare gains and sentiment improves. The Europe-wide Stoxx 600 is last up 0.45%, after opening flat. London's FTSE 100 rises 0.5% to a new intraday record, led by a 5.5% jump for defense giant Rolls-Royce after posting earnings. Banks and miners in the index also gain. In Paris, the CAC 40 rises 0.9%. Schneider Electric jumps 6.8% after upgrading its full-year targets, while French luxuries also strengthen. Germany's DAX ticks into the green--up 0.1%--as utilities and autos rise, even as Adidas extends losses to fall close to 18%. Banks help Spain's IBEX 35 trade up 1.2%, while the Dutch AEX gains 0.8%. The Italian FTSE MIB is flat. (josephmichael.stonor@wsj.com)

0528 ET - The Amsterdam District Court's ruling against Shell in its claim against Clariant is a significant victory for the Swiss chemical company, Jefferies analysts Marcus Dunford-Castro and Helena Xu write. The court dismissed a damage claim brought by Shell against the group and three other defendants related to alleged competition law infringement. "We see today's ruling as supportive for sentiment and from a precedent perspective," they say. Jefferies has an underperform rating on the stock and a 6.00 Swiss Franc target price. Clariant shares are up 17% at 9.01 Swiss Francs. (ian.walker@wsj.com)

0420 ET - The Malaysian government's five-year plan for AI adoption creates growth opportunities in construction, utilities, renewable energy and property sectors, says MBSB Research. The government aims to rank within the top 10 market of the Global AI Index by 2030 as part of the plan, as well as adding 1.2 percentage points in GDP growth and 300,000 AI-related jobs. Analyst Royce Tan Seng Hooi thinks the plan will bridge the gap between Malaysia's existing infrastructure-related strengths and the AI value chain. MBSB has buy calls on Tenaga Nasional, YTL Power International and Gamuda. (yingxian.wong@wsj.com)

0342 ET - Shell delivered strong second-quarter numbers after building up investors' expectations ahead of the release, Jefferies analyst Mark Wilson writes. It is noteworthy that the British energy major's release didn't include the immediate guidance and distribution increase that Italy's Eni offered investors when it reported Wednesday, he adds. Shell holds the line on its $3 billion buyback, while Eni hiked its repurchase. Shares rise 1.6% to 3,376.5 pence. (adam.whittaker@wsj.com)

0330 ET - Shell reported strong numbers after its traders benefited from supportive conditions, RBC Capital Markets analyst Biraj Borkhataria writes. Its $3 billion quarterly buyback was as expected but the energy major also needs to catch up with around $1.2 billion of uncompleted buybacks after it paused them during the Arc Resources acquisition, he says. Its forward-looking guidance is conservative but this is typical for Shell, he says. Shares rise 1.6% to 3,376.5 pence. (adam.whittaker@wsj.com)

2230 ET - Woodside Energy's capital-expenditure burden keeps UBS neutral on the stock despite the investment bank's analysts expectation of a third-quarter tailwind from liquefied-natural-gas contract pricing. The energy producer reported a 6% second-quarter trading margin, but the analysts anticipate a third-quarter benefit from the lag in LNG contract pricing. They tell clients in a note that Woodside is continuing to derisk its major growth projects, but point out that cash flows are still weighed by a period of heavy investment. UBS keeps a neutral rating on the stock and a target price of A$29.60. Shares are up 0.4% at A$32.88. (stuart.condie@wsj.com)

2142 ET - Dialog could be a net beneficiary of the ongoing Middle East conflict, supported by higher crude oil prices, Maybank IB analyst Jeremie Yap says in a note. He expects stronger earnings in fiscal 4Q and 1H FY 2027 with higher oil prices boost contributions from Dialog's upstream assets as new oil and gas production from the Cendramas and Baram projects begins contributing to earnings. Over the next three years, earnings should also be supported by new tank terminal expansions in Langsat and Pengerang, he adds. Yap likes Dialog's recurring income portfolio and stable cash flow from its midstream tank terminal assets. Maybank maintains a buy rating on Dialog and keeps its target price at 2.36 ringgit. Shares are unchanged at 1.98 ringgit. (yingxian.wong@wsj.com)

1512 ET - Oil futures bounce back from a three-session slide on resumed military strikes after Iran fired missiles at U.S. targets in Jordan. The return of fighting reduces optimism for talks to settle the conflict. "Irreconcilable differences over commercial transit rights and sovereignty in the Strait of Hormuz quickly restored the geopolitical risk premium," Gelber & Associates says in a note. Houthi attacks on Red Sea shipping and ongoing OPEC+ production shortfalls "reinforced expectations of tighter physical balances," the firm adds. WTI settles up 6.6% at $84.46 a barrel and Brent rises 7.9% to $90.74 a barrel.(anthony.harrup@wsj.com)

1350 ET - U.S. commercial crude oil inventories fell by a larger-than-expected 7.2 million barrels last week as refineries ran near full capacity and imports fell, while an additional 3.8 million barrels were released from the Strategic Petroleum Reserve, the EIA reports. "Barrels keep disappearing, with little sign of that trend improving," says David Russell of TradeStation. "The market could enter winter with seriously depleted stockpiles because inventories will need time merely to stabilize before the normal late-fall rebuilding season can begin. Risks increase if the conflict drags on." WTI is up 6.5% at $84.41 a barrel and Brent rises 7.3% to $90.26.