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.

0258 GMT - Dialog's tank terminal business may expand 55% over the next four years, driven by three potential projects linked to Petronas, ChemOne's Pengerang Energy Complex and another unnamed client, CGS International analyst Raymond Yap says in a note. While these tanks may only come online in 2028-2029, the market may react positively to related announcements, he adds. Yap also expects Dialog's oil and gas production to more than double within 3-5 years as it develops new fields. CGS International maintains an add rating and keeps its target price unchanged at MYR2.58, citing potential growth in the tank terminal business and possible forex gains. Shares are 0.7% higher at MYR1.53. (yingxian.wong@wsj.com)

0127 GMT - Korea Electric Power's shares could gain from improving sentiment among investors who expect oil prices to stabilize following the Israel-Iran ceasefire, says LG Securities analyst Sung Jong-hwa. Lower oil prices usually help the South Korean state utility reduce fuel-purchase costs and enhance earnings. Expectations are also growing for an electricity tariff increase in the fourth quarter following this week's decision to maintain tariffs for the third quarter, the analyst says in a note. The company's stock has been undervalued since its operating-profit turnaround in 2023, with its profit margin expected to widen to 13% this year from 9.0% in 2024, he adds. (kwanwoo.jun@wsj.com)

1910 GMT - Oil futures extend yesterday's losses as the Israel-Iran cease-fire takes another chunk of risk premium out of the market and fundamentals come back into focus. "We don't see any permanent change to supply" as a result of the conflict, says Brian Kessens, portfolio manager at Tortoise Capital. Tortoise expects OPEC+ to unwind all of its voluntary additional output cuts by year-end, leaving the market "marginally oversupplied" by 300,000 or 400,000 barrels a day, he says. "Over the longer term it will be healthier for the crude oil market because we won't be playing this game about how is OPEC+ going to manage the market." WTI settles down 6% at $64.37 a barrel and Brent falls 6.1% to $67.14 a barrel. (anthony.harrup@wsj.com)

1802 GMT - It may not be nuclear power, but electricity is electricity and Capital Power is producing plenty of it for a hungry market. TD Cowen's John Mould says in a report that the company's uncontracted gas-fired assets should continue to see further tailwinds from broad demand growth for electricity. What's more, Capital Power's shares have rebounded in recent months, Mould says, following an announcement in April of its acquisition of the Hummel Station and Rolling Hills facilities in the PJM Interconnection, the largest electricity market in North America. Additional clarity on the potential for data centers to connect to the grid in Alberta, has also been a tailwind. (adriano.marchese@wsj.com)

1340 GMT - Oil futures move deeper into the red after President Trump posts on Truth Social that China can buy oil from Iran. "China can now continue to purchase oil from Iran. Hopefully, they will be purchasing plenty from the U.S., also," Trump says. China is one of the main buyers of Iranian crude, and the U.S. has sanctioned a number of independent Chinese refineries that take the oil. The post follows an Israel-Iran ceasefire announcement that has taken geopolitical risk premium out of the price of oil. WTI is off 4.8% at $65.22 a barrel, and Brent falls 4.7% to $68.10 a barrel. (anthony.harrup@wsj.com)

1321 GMT - While the ceasefire between Israel and Iran is proving fragile, focus in the oil market should turn back to "bearish fundamentals" as long as both sides avoid attacking oil infrastructure or disrupting shipping, David Oxley of Capital Economics says in a note. "The large fall in prices is the result of traders marking down the probability of some of the tail-risks facing global energy markets--particularly the closure of the Strait of Hormuz," he says. With headwinds to Chinese oil demand and additional supply from OPEC+, the firm sees a sizeable surplus developing over the next 18 months. WTI is off 3.8% at $65.93 a barrel, and Brent is down 3.8% at $68.74 a barrel. (anthony.harrup@wsj.com)

1147 GMT - Telecom Plus's share price doesn't reflect the company's solid growth, AJ Bell's Russ Mould writes in a note. The company's fiscal year performance shows good progress in customer numbers, services sold, profit and the dividend, Mould notes. However, its share price seems indifferent to this progress, he says. "But it does stand near its highest mark since early 2023 and the stock already trades on a premium valuation relative to the wider U.K. market," which removes concerns about the underlying business, he adds. For its fiscal year, the company reported lower revenue due to the lowering of the U.K.'s energy price cap. Shares are down 4.2% at 1,988 pence.(najat.kantouar@wsj.com)

(END) Dow Jones Newswires

June 25, 2025 04:20 ET (08:20 GMT)

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