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.

2117 GMT - Oil futures end the session slightly higher with the market showing relief after President Trump said the U.S. won't strike Iran before the U.S. midterm elections. Concerns remained about continued attacks on shipping in the Middle East and loss of U.S. production to Hurricane Isaias. "The prospect of easing tensions still needs to be reinforced by concrete progress in negotiations and improvements in shipping safety through the Strait of Hormuz," Linh Tran of XS.com says in a note. The storm disruption "provides additional support for oil prices, but the duration of its impact will depend on post-storm facility inspections and the pace of operational recovery." WTI settles up 0.4% at $91.85 a barrel, up 0.8% on the week. Brent gains 0.4% to $104.72 a barrel for a 2.4% weekly gain. (anthony.harrup@wsj.com)

1832 GMT - Gold futures rise to end the week modestly higher and snap a two-week losing streak. Early declines in oil gave some support to the metal, although "the interest-rate backdrop remains challenging and leaves gold vulnerable to renewed selling pressure," Thadeu Dos Santos of Infinox says in a note. Pressure isn't limited to U.S. yields, as Japan's government has signaled it wouldn't resist further Bank of Japan tightening, and markets expect another ECB rate increase before year-end, he says. "Next week's U.S. inflation data could provide the main test for yields and gold." Front-month gold settles up 1.4% in New York at $4,191 a troy ounce, also up 1.4% on the week. Silver rises 2.7% to $60.67 for a 1.2% weekly gain. (anthony.harrup@wsj.com)

1806 GMT - The number of rigs drilling for oil in the U.S. increased by six this week to 462, a sixth consecutive rise to its highest level since May of 2025, according to data from Baker Hughes. The number of rigs was up by 44 from a year ago. The rise in oil prices since the start of the U.S.-Iran conflict has prompted more drilling, with U.S. crude production reaching a record just shy of 14 million barrels a day. The EIA estimates production will average 13.9 million b/d this year and rise to 14.3 million b/d in 2027. Rigs drilling for natural gas slipped by one this week to 132, or 12 more than a year ago. (anthony.harrup@wsj.com)

1335 GMT - Oil futures are giving back some of the previous day's gains after President Trump said the U.S. isn't planning to strike Iran before midterm elections on November 3. Trump's comment "has placed the crude markets back on the defensive amid what is likely to be a lull in attacks through the Strait of Hormuz," Ritterbusch & Associates says in a note. Hurricane Isaias prompted U.S. Gulf producers to evacuate platforms, shutting in production, although the storm track lies east of most U.S. Gulf coast refineries. Isaias became a Category 3 hurricane Friday morning, and is expected to make landfall late Friday or early Saturday, according to the National Hurricane Center. WTI is off 0.8% at $90.78 a barrel and Brent is down 1.1% at $103.19 a barrel.