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

0815 GMT - Oil prices are likely to decline in the near term, Julius Baer's Norbert Rücker says in a note. "The chit-chat of the day is about exchange estimates of how much oil is transiting through the Strait of Hormuz," he adds. Oil exports through the strait seems to be expanding incrementally, with estimates of up to 10 million barrels a day. Oil and oil product storage also seem to be holding up much better than feared, from North America to Europe and Asia. Julius Baer expects oil prices to drop into the $70s a barrel in 2026 and into the $60s in 2027. Front-month WTI crude oil futures are 2.1% higher at $85.14 a barrel; front-month Brent crude oil futures are 2.2% higher at $90.04 a barrel. (amanda.lee@wsj.com)

0813 GMT - WuXi Biologics' stronger project backlog is likely to underpin its revenue visibility, says China Galaxy International Securities' Vicky Zhu in a note. The contract research, development and manufacturing company added 169 new projects and 119 net integrated projects in 1H, while its total revenue backlog reached US$25.1 billion as of end June, she notes. The acquisition of BioDlink also contributed to the higher number of projects, she adds. She raises her 2026-2027 revenue growth estimates to around 21% and lifts her 2026-2028 earnings per share estimates by 2%-8%. China Galaxy therefore raises its target price to HK$57.82 from HK$48.62 and maintains an add rating. Shares closed 3.6% lower at HK$48.84. (megan.cheah@wsj.com)

0713 GMT - Bangchak Corp.'s positive earnings outlook is reinforced by its investor forum, UOB Kay Hian's Arsit Pamaranont says in a research report. Management aims to boost the petroleum and energy conglomerate's Ebitda to 100 billion baht by 2030 from 36 billion baht in 2025, with its strategy increasingly focused on maximizing value from existing businesses. Its trading business was another positive surprise, with management targeting trading Ebitda of roughly 1.6 billion baht in 2027 and 5 billion baht by 2031 after trading Ebitda reached 1.05 billion baht in 1H 2026. The brokerage raises the stock's target price to 65.00 baht from 52.00 baht to reflect valuation roll-forward, with unchanged buy rating. Shares are 0.5% higher at 55.00 baht. (ronnie.harui@wsj.com)

0707 GMT - Eurozone government bond yields edge higher, taking the 10-year Bund yield to a 15-year high of 3.290%, according to LSEG data. The rise follows an increase in oil prices after U.S. forces attacked two Iranian rocket launchers in the Strait of Hormuz on Sunday, according to the U.S. Central Command, risking a return to all-out conflict in a region. The prospect of interest-rate hikes in both the eurozone and the U.S. this year reinforces the move. Brent crude rises 1.3% to $90.49 a barrel. The 10-year Bund yield last trades 0.9 basis points higher at 3.284%. (emese.bartha@wsj.com)

0652 GMT - Frencken Group remains an add call to CGS International on two tailwinds, the brokerage's William Tng says in a research report. The analyst cites management's guidance for a strong recovery in the manufacturing solutions provider's semiconductor business over 2027-2028 and buying support for its shares from Singapore's Equity Market Development Programme. The company is also likely to post 8.8% EPS CAGR over 2025-2028 with potential for higher earnings in 2027-2028 if demand in its semiconductor segment remains strong. However, the brokerage lowers the stock's target price to 2.93 Singapore dollars from S$3.25 to factor in the company's proposed new share placement. Shares are 0.85% lower at S$2.33. (ronnie.harui@wsj.com)

0635 GMT - Nordic markets are seen opening slightly lower, with IG calling the OMXS30 down 0.4% to 3318. "The week begins with a suppressed risk appetite in Asia due to the fact that the U.S. and Iran have once again directed military attacks against each other," SEB's Dana Malas writes. Fed Chairman Kevin Warsh's speech in Jackson Hole on Friday also signaled disappointment that inflation remains above the 2.0% target and a risk that interest rates could rise, she says. The market now prices a roughly 60% probability of a rate increase on September 16. September could be an important month, with the European Central Bank and Bank of Japan expected to raise rates, Malas adds. OMXS30 closed at 3331.27, OMXN40 at 2733.09 and OBX at 2024.48. (dominic.chopping@wsj.com)

0619 GMT - China's economic momentum is likely to improve for the remainder of 2026, Capital Economics' Nguyen Hoang Nam says in a note. China's official manufacturing purchasing managers index in August rose to 49.8 from 49.2 in July, beating expectations. The subindex for total new orders increased to 50.6, up from 48.5 in July. This suggests that fiscal spending on infrastructure may be on the cusp of picking up again after delays in the deployment of already-allocated funds by local governments, says the China economist.