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

0859 GMT - Schneider Electric is buying U.S. software maker PTC at a reasonable valuation, but the deal leaves the French engineering giant more exposed to investor concerns about the impact of AI on industrial-software assets, RBC Capital Markets' Mark Fielding and Abigail Yee say. The valuations of industrial-software companies have been under pressure due to AI worries, and Schneider's exposure to this concern will grow after the deal, the analysts say in a research note. Moreover, the integration might be complicated, and creating a software and AI portfolio won't be simple either, they add. The debt Schneider will take on might reignite prior market concerns about the company, according to RBC. Schneider shares fall 9.2%. PTC climbs 25% in U.S. premarket trading.(adria.calatayud@wsj.com)

0849 GMT - Ithaca Energy's deal to buy Suncor's offshore Canada assets lifts its medium-term outlook to 140,000 to 150,000 barrels of oil equivalent a day from 120,000 barrels a day, Barclays analyst Naisheng Cui writes. The London-listed energy company expects to become the fifth​-​largest operator offshore Canada by production, which gives it a platform for future consolidation and growth opportunities across North America, he adds. Shares rise 3.1% to 284 pence.(adam.whittaker@wsj.com)

0823 GMT - Malaysia's palm oil sector's outlook could improve as Malaysian palm oil inventories approach a cyclical peak and the lagged impact of El Nino begins to weigh on production, Public Investment Bank analyst Chong Hoe Leong says in a note. Inventories will likely peak around October before declining from November, providing a stronger basis for CPO prices to recover, he says. A stronger-than-expected El Nino could further tighten global palm oil supply, with production in Malaysia and Indonesia potentially falling 3%-8% under moderate to prolonged dry conditions, he reckons. Higher crude oil prices could also boost palm oil demand for biodiesel, while Indonesia's B50 biodiesel mandate is expected to provide additional structural support, he adds. Public IB maintains an overweight rating on Malaysia's plantation sector, pegging Sarawak Plantation and TA Ann as preferred picks. (yingxian.wong@wsj.com)

0817 GMT - A preliminary deal between the U.S. and Iran is unlikely to materialize before the first quarter of next year, according to BMI analysts. "Extended disruptions to regional oil flows will see price pressures extend and build across the coming three to six months, compounded by ongoing supply-side constraints stemming from the Russia-Ukraine war," they say. "Prices will zigzag higher, as repeated cycles of escalation and deescalation between Washington and Tehran meet with progressively lower inventory levels and fewer fundamental brakes on future rallies." BMI raised its oil price forecast, saying it now sees Brent crude at an average of $93 a barrel this year, from $83 a barrel previously. (giulia.petroni@wsj.com)

0750 GMT - Oil prices fall in early trading as recovering Middle East crude exports and the release of oil stocks by the Group of Seven eased concerns over supplies. President Trump also ruled out a diesel export ban, which would have tightened international products markets. Front-month Brent crude is down 0.9% to $101.32 a barrel, while WTI futures decline 1.5% to $89.75 a barrel. Further reinforcing expectations of looser crude oil market conditions, Saudi Arabia reduced the official selling price for its Arab Light to Asia by $3 a barrel for November loadings, widening its discount to the regional benchmark to $5 a barrel. Still, tensions in the region remain elevated, with several vessels coming under attack around the coasts of Oman and Yemen. (giulia.petroni@wsj.com)

0735 GMT - National Grid's asset and earnings growth targets are well underpinned, if not leaning toward the conservative side, J.P. Morgan analysts write. The energy company said its regulated business was trading in line with expectations and forecast group EPS growth of 13%-15% for fiscal 2027. "Over 90% of the company's investments in the coming years will be in regulated businesses, underpinned by robust frameworks that offer a high degree of earnings and cash-flow visibility," the analysts say. JPM has an overweight rating on the stock and 14.40 pound target price. Shares are up 0.8% at 11.55 pounds. (ian.walker@wsj.com)

0728 GMT - Ithaca Energy is once again taking a differentiated but potentially more valuable path, Jefferies analyst Mark Wilson writes. While market commentators have focused on who will buy BP's North Sea assets, the London-listed energy company has made its first international acquisition offshore the east coast of Canada, he adds. The deal is immediately accretive and the basin has significant technical and operational parallels to the U.K. North Sea, he adds. Shares rise 1.9% to 280.0 pence. (adam.whittaker@wsj.com)

0711 GMT - Medco Energi Internasional may benefit from quickening capital expenditure into visible growth projects, CGS International analysts say in a research report. It raised 2026 oil and gas capex guidance to $450 million-$475 million from $415 million, and power capex guidance to $50 million from $15 million to accelerate development of Sakakemang Block and Dalle Energy Batam power plant expansion, the analysts note. Given ongoing Middle East tensions, the brokerage also lifts its Brent oil-price assumptions to $82.50-$90.00 per barrel for 2026-2027 from $80-$85 a barrel. It raises the stock's target price to 2,270.00 rupiah from 2,170.00 rupiah with an unchanged add rating. Shares are 1.1% higher at 1,390.00 rupiah. (ronnie.harui@wsj.com)

0701 GMT - National Grid's first-half performance update is slightly positive, Jefferies analysts write. The grid operator now sees EPS growth for fiscal 2027 just above its previous 13% to 15% guidance. The 15% upper range of this implies around 88.9 pence, which is 3% above consensus expectations, they write. (adam.whittaker@wsj.com)

0546 GMT - Gunkul Engineering might benefit from a new investment cycle in Thailand's power infrastructure, ttb wealth securities' Nuttapop Prasitsuksant says in a note as the brokerage maintains the stock's buy rating. Drivers include surging demand from data-center investment boom and other advanced manufacturing industries, as well as Thailand's policy to raise the share of renewable generation under the Power Development Plan 2026, the analyst says. The Thai company is exposed to this potential opportunity via its engineering, procurement, and construction services business and its renewable power development business. However, the brokerage trims the stock's target price to 5.80 baht from 6.00 baht to partly reflect near-term drag from asset divestment. Shares are 2.0% higher at 5.15 baht.