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

0909 ET - Oil futures are rising for a second session on renewed concerns about disruption of flows out of the Persian Gulf. "The latest leg higher is being driven primarily by the renewed escalation in tensions between the U.S. and Iran, with traders ignoring the controversial U.S.-Venezuela deal for now," Fawad Razaqzada of Forex.com says in a note. "The near-term outlook remains heavily dependent on the supply side." Softer economic data in China and the U.S. point to some moderation in demand, "but oil is relatively demand-inelastic: consumption tends not to fall sharply simply because prices rise." WTI is up 2.6% at $87.96 a barrel and Brent gains 2.2% to $92.48.(anthony.harrup@wsj.com)

0702 ET - Palm oil prices ended higher, thanks to strength in soybean oil prices and persistent concern over El Nino affecting long-term output, says David Ng, a trader at Kuala Lumpur-based Iceberg X. The trader sees crude palm oil prices facing resistance at 4,850 ringgit a ton and finding support at 5,050 ringgit a ton. The Bursa Malaysia Derivatives contract for November delivery ended MYR79 higher at MYR4,973 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

0641 ET - Speculative buying in gold futures has remained relatively restrained despite a 6.2% price rally during the latest reporting week, suggesting some of the demand may be coming from outside the futures market, Saxo Bank says. Managed-money net length rose just 4% to around 151,000 contracts, says Ole Hansen, head of commodity strategy at Saxo. Silver and platinum recorded even smaller positioning responses despite stronger price gains, while Friday's hawkish remarks from Federal Reserve Chairman Kevin Warsh subsequently pushed precious metals sharply lower. (farhan.rafid@wsj.com)

0542 ET - European natural gas prices rise as U.S.-Iran escalations spur supply fears, while demand remains elevated. The benchmark Dutch TTF contract jumps 2.4% to 71.52 euros a megawatt-hour in late morning European trade. While limited supply out of Qatar has pushed gas prices higher, the bigger reason behind the surge in TTF contracts is increased demand, UniCredit strategists write. "Market fears are growing that Europe is behind schedule with its gas restocking, which will likely lead to sustained high demand at least through the end of 2026," the strategists say. European gas inventories are at 65.09% capacity, around 12 percentage points below levels in August 2025, they note. (josephmichael.stonor@wsj.com)

0348 ET - Gold prices hold below $4,500 a troy ounce as a global selloff in government bonds raises the likelihood of a Federal Reserve rate hike, dimming the attractiveness of the precious metal. New York futures slip 0.2% to $4,472.70 an ounce in early European trade. Higher interest rates reduce the appeal of holding nonyielding gold. Higher oil prices, as well as Fed Chairman Kevin Warsh's hawkish speech at Jackson Hole, prompted investors to up their expectations for a near-term rate hike. The change in mood is likely to have put a temporary halt on money flowing into gold, ANZ analysts write. "The precious metal now looks vulnerable to selling, as the market adjusts to the apparent shift in the monetary policy backdrop." (josephmichael.stonor@wsj.com)

0343 ET - Oil trades higher after the U.S. and Iran returned to tit-for-tat strikes, renewing concerns over supply from the Persian Gulf. In early morning European trade, Brent crude oil for November delivery rises 1.35% to $91.73 a barrel, while WTI's most-traded contract rises 1.5% to $87.09 a barrel. American forces struck Iran for the first time in a month earlier this week, prompting Iranian retaliation on Jordan, home to thousands of American troops. "Shipping conditions remain fragile, with another tanker reportedly attacked near Oman" overnight, MUFG's Soojin Kim writes. However, some solace was provided by signs that producers are continuing to export through Hormuz despite the elevated risk, the analyst notes. (josephmichael.stonor@wsj.com)

2244 ET - Palm oil rises in Asian trading, tracking overnight gains in soybean oil on the Chicago Board of Trade. The Indonesian Palm Oil Producers Association's projection that El Nino impact could reduce next year's output by about 5 million tons could also help support prices, AmInvestment Bank says in a note. AmInvestment Bank estimates palm oil prices to face resistance at 5,084 ringgit a ton and find support at 4,823 ringgit a ton. The Bursa Malaysia Derivatives contract for November delivery is up 92 ringgit at 4,986 ringgit a ton.(yingxian.wong@wsj.com)

2243 ET - Liontown's comments about "thicker ore zones" could help alleviate market concerns around feed availability, Macquarie says. It calls the remarks "a key positive" amid mixed fiscal 2026 results. The lithium miner aims to increase its annual production rate to 2.8 million metric tons from 1.5 million tons by end-FY 2027. However, open-pit stockpiles are expected to be exhausted during 1Q, after which the plant will use underground ore. "LTR confirmed that FY27 production guidance already incorporates available ROM [run-of-mine] inventory and expected disruption from tie-in activities," says Macquarie. "Management also highlighted flexibility within its offtake arrangements and confirmed that no third-party ore purchases are required in FY27." Macquarie has an outperform rating and a A$1.50/share target on Liontown. The stock is up 1.6% at A$1.245. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2204 ET - Liontown's 1H FY27 could be particularly weak, with stockpiles depleted and underground volumes still to ramp up, says UBS. The bank expects FY27 spodumene concentrate production at the low end of company guidance and costs at the high end, as the underground ramps output. UBS says Liontown's chemical-linked pricing has resulted in lower prices than peers. That should improve as lagged contracts decline from two thirds of sales to one third from January 2027, it says. "Understanding the pending 2-3 year investment cycle (while the operation ramps up Stage 1) remains the main catalyst," UBS says. A final investment decision on an expansion at Kathleen Valley is expected at the end of 1Q. UBS keeps a neutral rating and trims its price target to A$1.40 from A$1.45. Shares are up 2.9% at A$1.26. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2154 ET - Copper rises in early Asian trade, with the three-month LME copper contract up 0.8% at $14,403.00 a metric ton. Supply-side issues remain, as data highlight challenges ahead for the copper market, ANZ Research analysts say in a note. The world's top copper producer, Chile, reported that output fell 9.4% in July from a year earlier, ANZ notes, citing data from the national statistics agency. (amanda.lee@wsj.com)

2052 ET - Gold rises in early Asian trade. The macro environment has become more supportive with softer U.S. data, easing yield pressures and a less consistently strong U.S. dollar which helps precious metals regain momentum, OCBC Group Research writes in a note. While Fed chief Warsh's Jackson Hole speech may temporarily limit near-term upside on concerns of Fed rate hikes, it doesn't substantially affect the broader picture, including structural supports like central bank demand for gold and persistent supply constraints in silver, OCBC adds. Spot gold is 0.1% higher at $4,453.66 a troy ounce. (kimberley.kao@wsj.com)

1736 ET - Canadian Prime Minister Mark Carney met with senior executives from nearly two dozen corporations and pension funds to discuss domestic economic policy amid a deteriorating U.S.-Canada trade relationship, the leader's office says. In a statement, Canada's Prime Minister's Office adds Carney asked leaders to share their thoughts on what might be required. Canada and the U.S. broke off trade talks this month, leading to the U.S. slapping a 50% tariff on about $20 billion in Canadian goods. Canada intends to impose retaliatory tariffs on U.S. products next week. Among the companies participating in the Carney meeting were Royal Bank of Canada, Canadian National Railway, Nutrien, BCE and Teck. Pension-fund participants included the CPP Investment Board, Ontario Teachers and La Caisse.