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

1712 ET - Natural gas futures settled 3Q 2026 in negative territory, falling 7.6% to $3.026 per million British thermal units. It's the fourth quarter out of the past six that natural gas futures have decreased. Year-to-date, natural gas remains 18% lower, according to FactSet data. The end of the quarter came with news of supply disruptions both domestically and overseas, although the LNG pipeline in West Virginia has since reopened. "Today seems like a digestion day after prices spiked 50 cents [per mmBtu] mid-last week, then sold off nearly 35 cents the prior three sessions," says NatGasWeather.com in a note. For the day, natural gas futures rose 0.5%. (kirk.maltais@wsj.com)

0946 ET - Natural gas futures have fallen below the $3 per million British thermal units threshold. Futures are looking for support, says EBW Analytics in a note. But it being the end of the month, natural gas futures may soon stop their slide, EBW says. "Day-to-day production readings remain volatile and imprecise," says the firm. "Phantom first-of-month declines are probable tomorrow." But how long natural gas prices continues to fall depends on how long the weather stays warmer than normal in the eastern U.S. Natural gas futures are down 0.7% to $2.99 per mmBtu. (kirk.maltais@wsj.com)

0934 ET - Oil prices rebound as tensions in the Middle East remain high despite a recent pickup in exports that calmed supply fears. Brent crude November futures were up 0.9% to $103.52 a barrel, while the more-active December contract climbs 2.3% to $98.37 a barrel. Front-month West Texas Intermediate traded 1.8% higher at $90.99 a barrel. Brent is headed for a monthly ​gain of around 16%, while WTI is on track for a 9% rise. The U.K. Maritime Trade Operations said Wednesday that it received a report that a tanker transiting through the Strait of Hormuz was struck by an unknown projectile. Meanwhile, in Israel, Prime Minister Benjamin Netanyahu held an emergency meeting with security officials over the incident involving a FlyDubai flight that made an emergency landing in Saudi Arabia after one of the pilots was reportedly stabbed. (giulia.petroni@wsj.com)

0932 ET - Rising energy costs due to the war in Iran are now beginning to feed through to food and services prices in the eurozone, Jack Allen-Reynolds at Capital Economics says in a note. Inflation in the currency bloc's four largest economies exceeded consensus forecasts in September, pointing to a rise in headline eurozone inflation to 3.7% from 3.2% in August, he says. "We warned last week that higher energy costs might start to show up in other components of the inflation basket in September." Higher agricultural prices have pushed up food costs, while soaring jet fuel prices have lifted transport inflation, with core inflation expected to creep up in the coming quarters. Allen-Reynolds expects the European Central Bank to hold rates in October before raising in December. (don.forbes@wsj.com)

0924 ET - Crude oil futures are higher after trading lower Tuesday. Reports of potential sanctions relief being offered to Russia were a factor dragging oil down, says the Hightower Report in a note. "President Trump later denied those reports, which helped crude oil regain strength early in today's action," says the firm. Oil traders will also be looking for the EIA's weekly report, which analysts expect will show decreased inventories for U.S. crude oil and distillates. WTI crude is up 1.1% to $90.32 a barrel, while Brent crude futures rise 0.6% to $103.19 a barrel. (kirk.maltais@wsj.com)

0757 ET - The effects of higher energy costs on Johnson Matthey should be contained, and the business is well placed for sustainable shareholder returns, Jefferies analysts Helena Xu and Marcus Dunford-Castro write. The chemicals firm produces catalytic converters for combustion engines, and higher energy prices accelerate the shift to electric vehicles. "We believe the risk to JMAT is contained, given its underweight exposure to China where the acceleration is likely most pronounced," the analysts write. Jefferies reiterates its buy rating on the stock and ups its price target to 26.60 pounds from 23.30 pounds. Shares are 1.7% higher at 24.20 pounds but are down 17% year to date. (joseph.wilkins@wsj.com)

0516 ET - The Kuala Lumpur Composite Index is set to have a wider buffer around its expanded 50-stock gauge, CIMB Securities' Ivy Ng Lee Fang says in a note. With inclusion and deletion thresholds revised to 40th and 61st, respectively, from 25th and 36th, the risk of frequent index turnover is reduced, the analyst writes. The changes will take effect with the December review as the KLCI expands to 50 constituents from 30. Based on Sept. 28 market-cap data, Ng says Unisem and Kelington could enter the index, replacing Genting Malaysia and Malayan Cement. Westports, United Plantations, Vitrox and Sime Darby are among others that could be included, she adds. The final list will be based on market-cap data as at Nov. 23. (yingxian.wong@wsj.com)

0445 ET - The U.K. government could use "golden shares or other veto rights" to shift ownership of the utilities company Thames Water from private investors to public ownership, CreditSights' Helen Rodriguez and Scott Haysom say in a note. Prime Minister Andy Burnham on Tuesday announced that a strengthened Water Bill would be presented to parliament to pave the way for stronger public ownership of U.K. water companies. Golden shares are a special category of stocks that give shareholders superior voting rights over important decisions. The government could use golden shares to shift ownership as these do not involve big financial outlays, the analysts say. (miriam.mukuru@wsj.com)

0324 ET - Oil prices fall as investors weigh uncertainty over U.S.-Iran talks and a recent pickup in Middle East crude exports. "For now, that reduces fears of an immediate crude shortage and explains why prices can fall even though talks between the U.S. and Iran have made no clear progress," says Simon-Peter Massabni from XS.com. "The market's main question is whether this faster pace of shipments can be sustained through October." Goldman Sachs estimates that Persian Gulf oil exports--including so-called "dark" transits--have reached 23.3 million barrels a day over the last week, in line with their 2025 average. In early European trading, the Brent crude November contract, which expires on Wednesday, falls 0.2% to $102.42 a barrel, while the more ​active December contract is down 0.8% to $95.34 a barrel. WTI futures slip 0.6% to $88.87 a barrel. (giulia.petroni@wsj.com)

0318 ET - European stock indexes open higher, with utilities and mining stocks leading the continent. All sectors except energy are in the green as the Stoxx 600 adds 0.6%. London's FTSE 100 rises 0.7%, led by a 2.3% gain for utilities group SSE. Metals miner Rio Tinto gains 2.2%. The French CAC 40 rises 0.3%, with hotel group Accor up 1.65%. Airbus adds 1.5%. In Germany, the DAX is up 0.6%. Heidelberg Materials and Rheinmetall gain 2% and 1.4%, respectively, as oil prices fall from earlier highs. Spain's IBEX 35 rises 0.8%, while the Italian FTSE MIB adds 0.5%. The Dutch AEX gains 0.5%, with semiconductor names trading steady. (josephmichael.stonor@wsj.com)

0314 ET - Uranium prices are heading higher over the medium term, Berenberg analysts write in a note. Uranium has a compelling outlook, which could push prices over $100 a pound by the end of the year, they say. Prices are currently around $90 a pound. Over the near term, new projects in Kazakhstan and Canada face risks that lead to a slower ramp-up of supply, they add. Demand is also set to grow as new nuclear reactors are rolled out, they add. (adam.whittaker@wsj.com)

0314 ET - Bitcoin falls as continued uncertainty over the Middle East conflict keeps investors cautious over risky assets. President Trump denied reports that the U.S. offered Iran sanctions relief in exchange for Tehran showing concrete steps regarding its nuclear program. Bitcoin drops 0.6% to $83,075, LSEG data show. Upcoming U.S. inflation and employment data will be key for broader risk appetite and bitcoin, Zaye Capital Markets analyst Naeem Aslam says in a note. "If yields fall and exchange-traded fund demand remains positive, bitcoin could find stronger support above $83,000; if inflation stays firm and real yields remain elevated, the market may continue to struggle for momentum despite its improving institutional base," he says.