The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0812 GMT - European natural-gas prices climb more than 2%, trading just shy of 74 euros a megawatt-hour as supply flows from Qatar remain severely disrupted. "LNG has not been flowing out as much as crude oil, leaving the gas market increasingly vulnerable as we near the 2026/27 heating season," ING analysts say. Qatar, one of the world's largest LNG exporters, recently extended force majeure on liquefied natural gas shipments for Edison--one of its largest European customers--through early November. Meanwhile, gas storage levels across the EU are currently 66% full, below the seasonal average. In early European trading, the benchmark Dutch TTF contract is up 2.4% to 73.73 euros a megawatt-hour.(giulia.petroni@wsj.com)
0731 GMT - Oil prices extend gains in early European trading, with Brent crude topping $97 a barrel after the U.S. and Iran exchanged a series of fresh strikes over the weekend. The global oil benchmark is up 0.8% to $97.05 a barrel, while the U.S. gauge WTI rises 0.6% to $91.99 a barrel. "The oil market remains well-supported with little sign of peace between the U.S. and Iran," analysts at ING say. According to the firm, speculators became more bullish on Brent crude last week as renewed U.S.-Iran tensions heightened concerns over prolonged supply disruptions. But the increase in net-long positioning was driven mainly by short covering, suggesting traders were largely closing bearish bets rather than making aggressive new wagers on higher oil prices. (giulia.petroni@wsj.com)
0718 GMT - European energy majors start the week higher as attacks on vessels in the Strait of Hormuz escalate. Brent crude is up 1.1% to $97.37 a barrel and WTI rises 1% to $86.29 a barrel after the U.S. hit three Iranian oil tankers over the weekend. "With tanker traffic increasingly exposed to direct military action and restrictions around the strait potentially widening, risks to Gulf energy exports remain elevated, keeping a substantial geopolitical premium embedded in oil prices," MUFG's Soojin Kim writes. Spain's Repsol and Italy's Eni both rise around 1.2%. In London, BP gains 0.9% and Shell rises 0.45%. (adam.whittaker@wsj.com)
0643 GMT - Share prices of Japanese energy suppliers are likely to reflect high shipping rates, Nomura's Masaharu Hirokane says in a research report. The market hasn't priced in structural change in energy suppliers, namely ships having to travel longer distances, caused by deterioration in the Middle East situation, the analyst says. Nippon Yusen K.K. will likely see profit growth in its energy business this fiscal year, as some of its crude oil tankers are poised to reflect higher contract rates for the Middle East to Far East route. Contract rates on this route have risen the most in crude oil tanker transport contracts, the analyst notes. Nomura raises the stock's target price to 8,800 yen from Y7,100 with an unchanged buy rating. Shares closed 3.7% higher at Y7,420. (ronnie.harui@wsj.com)
2254 GMT - ARB's bull at Ord Minnett looks beyond the latest snapshot of new car sales in Australia, which featured a faster decline in the 4x4 parts retailer's key vehicles. New vehicle sales rose by 0.4% in August compared to a year ago. The rise was underpinned by record sales of electric vehicles. Analyst James Casey notes that most models relevant to ARB stayed weak. Toyota HiLux sales were broadly flat, while Ford Ranger sales fell by 51%. "That said, supply of Toyota vehicles appears to be improving with exports to Oceania increasing, consistent with management's expectations of improved supply in 2H 2026," Ord Minnett says. It expects ARB's earnings to grow in FY27, helped by the improved supply, strong gross profit margins and continued offshore expansion.
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