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

0907 ET - Kroger logs better-than-expected 4Q earnings, aided by a smaller-than-anticipated last-in-first-out charge and lower-than-expected depreciation and amortization, JPMorgan analysts say in a research note. For the year ahead, though, the grocer's outlook came in below Wall Street models. However, the analysts say Kroger's identical sales outlook is probably more in-line with expectations, if not slightly better, given what seemed to be softening consumption trends in third-party data. And the EPS shortfall seems to be driven by below-the-line items, they add. The analysts are looking for more information on the earnings call, which will be Greg Foran's first as CEO. "We are interested to hear of incremental details on his strategic plans," they write. (connor.hart@wsj.com)

0905 ET - Crude futures extend their rally with the Middle East conflict in its sixth day, disrupting shipping and energy infrastructure. Uncertainty surrounding the conflict's duration is keeping upward pressure "firmly in place," Frank Walbaum of Naga says. He notes Iraq's shutting in production for lack of storage, with traders "actively pricing in the risk of broader forced shutdowns if the disruptions continue." While U.S. plans to support tanker insurance and deploy naval escorts could limit spikes, "any meaningful market pullbacks will likely depend on clear signs of geopolitical de-escalation or the sustained reopening of commercial tanker flows." Brent rises 2.4% to $83.36 a barrel and WTI gains 3% to $76.93.(anthony.harrup@wsj.com)

0757 ET - Canadian Natural Resources' operational performance was right down the fairway and the Canadian energy company continues to deliver as expected, Michael Barth of Raymond James says. Adjusted fund flows from operations at C$3.75 billion for 4Q was 8% ahead of the analysts forecast and 7% ahead of the consensus forecast, through Barth says that appears to have been largely driven by lower cash tax and high netbacks. Raymond James has an outperform call on the shares, which last closed in Toronto at C$60.24. In premarket trade in New York, the stock is up 1.8% at $44.97. (robb.stewart@wsj.com)

0715 ET - Gold prices rise, pushing closer to $5,200 a troy ounce as the Middle East conflict drags on, lifting demand for safer assets. New York futures are up 0.8% to $5,175.20 an ounce. "The inflationary impact of the Middle East conflict, via sharply higher energy prices, could reinforce expectations of higher interest rates for longer--a headwind for nonyielding assets such as gold," analysts at ING say. "However, elevated geopolitical uncertainty continues to support a risk premium, helping to underpin prices despite the challenging rates backdrop." Meanwhile, silver futures rise 1.3% to $84.31 an ounce. (giulia.petroni@wsj.com)

0540 ET - Palm oil ended higher, tracking higher crude oil prices amid escalating tensions in the Middle East, according to David Ng, a trader at Kuala Lumpur-based Iceberg X. The effective closure of the Strait of Hormuz continues to support oil prices. Ng sees prices of crude palm oil supported at 4,150 ringgit a ton and resistance at 4,300 ringgit a ton. The Bursa Malaysia Derivatives contract for May delivery rose 26 ringit to 4,205 ringgit a ton. (tracy.qu@wsj.com)

0305 ET - Gold prices rise in early trading despite a stronger U.S. dollar, as the widening Middle East conflict boosts demand for safe havens. In early trading, futures in New York are up 0.8% to $5,173.50 a troy ounce. The precious metal--traditionally viewed as a hedge against geopolitical uncertainty--has risen nearly 20% this year, though it remains well below the highs reached earlier this year. "The market is keeping one eye on the impact of rising energy prices on inflation," analysts at ANZ say. "This has already seen traders scale back their bets on further interest rate cuts." As a non-yielding asset, gold typically benefits when real yields fall, as this reduces the opportunity cost of holding bullion. (giulia.petroni@wsj.com)

0134 ET - The dollar's strength could continue weighing on gold prices, according to Phillip Nova's Priyanka Sachdeva. The unexpected surge in the U.S. currency likely played a role in some profit-taking in gold, despite the widening Middle East conflict, the analyst says in a note. Inflation fears have revived, along with the possibility of fewer Federal Reserve rate cuts this year, given higher energy prices. Nonetheless, gold is still hovering around 18% year-to-date gains, despite retreating from $5,400. Investors should take into account the dollar's rise, the pace of gold-buying by central banks and any escalation in the Iran conflict when positioning in gold, she adds. Spot gold is flat at $5,141.36 a troy ounce. (megan.cheah@wsj.com)

2235 ET - Petronas Chemicals could benefit from a short-term rising trend in chemicals prices amid the Middle East conflict, Maybank IB analyst Jeremie Yap says in a note. Spot olefin and urea prices are surging on plant closures and supply disruptions linked to the Strait of Hormuz, while the trend's durability hinges on the duration of the conflict and shipping access, he says. The price jump is likely event-driven and may normalize once tensions ease, he adds. Higher naphtha costs and potential feedstock disruptions at unit Pengerang Petrochemical could result in wider losses, he adds. Maybank upgrades Petronas Chemicals to hold from sell and raises the target price to 3.56 ringgit from 2.23 ringgit. Shares are 1.2% lower at 3.41 ringgit. (yingxian.wong@wsj.com)

2150 ET - Palm oil prices fall in early Asian trading, as traders remain cautious on the outlook for demand for the vegetable oil, with the Iran conflict raising concerns over global trade flows and potential shipping disruptions, AmInvestment Bank says in a note. However, technical analysis suggests sustained upward momentum on CPO futures, it says, adding that market sentiment is expected to remain positive as prices continue to draw support from a firm energy market. AmInvestment Bank sees resistance at 4,255 ringgit a ton and support at 4,135 ringgit a ton. The Bursa Malaysia Derivatives contract for May delivery falls 10 ringgit to 4,169 ringgit a ton.(yingxian.wong@wsj.com)

2128 ET - Iron ore rises in early Asian trading, with the most-traded iron-ore contract on the Dalian Commodity Exchange gaining 1.9% to 764.00 yuan a ton. Amid heightened macro volatility, downside risks appear limited but a clear catalyst for a sustained rally is lacking, Nanhua analysts say in a commentary. Iron ore supply remains elevated with shipments from smaller miners staying high. Meanwhile, hot metal output has picked up, as steel mills are encouraged to restock amid relatively low prices, Nanhua adds.(jason.chau@wsj.com)

2058 ET - The recent escalation of the Middle East conflict is likely to have a limited near-term impact on Southeast Asia's plantation sector, as key shipping routes from Asia to Europe and the U.S. remain largely unaffected, Maybank IB analyst Ong Chee Ting says in a note. The Strait of Hormuz isn't a major trade route for palm oil. However, a prolonged or broader escalation could lift crude palm oil prices in the medium term, but only if crude oil prices rise and remain above $100 a barrel. In the absence of fresh catalysts, CPO prices are expected to trade between 4,000 ringgit and 4,300 ringgit a ton in the near term. If oil sustains above $100/bbl, the Indonesian government may revisit its B50 biodiesel mandate in 2H, supporting demand and prices, he adds.(yingxian.wong@wsj.com)

2012 ET - Aluminum continued to extend gains in Asian trade, with the three-month contract on the London Metal Exchange rising 0.3% to $3,354.00 a metric ton. The metal's gains come amid tight supply stemming from the Middle East conflict. Aluminium Bahrain BSC suspended deliveries to some customers under a force majeure clause, ANZ Research analysts say in a note. Outbound shipments have also been hurt by an effective halt on voyages through the Strait of Hormuz, they add. This follows Qatar-based smelter Qatalum starting a controlled shutdown of aluminum output on Tuesday, with a full restart expected to up to twelve months. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 05, 2026 09:15 ET (14:15 GMT)

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