Chevron Closes Megadeal for Hess After Winning -2-

1015 GMT - Palm oil futures ended higher. Although Malaysia's output is rising, palm oil's discount to its rival vegetable oils could be driving more demand, analysts at AmInvestment Bank say in a note. However, investors remain cautious on expectations of higher tropical oil supplies, according to analysts at Kenanga Futures. The Bursa Malaysia Derivatives October contract rose 106 ringgit to 4,316 ringgit a ton. ([e-mail])

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Copper Rises on Hopes for Improved Chinese Demand -- Market Talk

0920 GMT - LME three-month copper rises 0.6% to $9,736.50 a metric ton on improving demand prospects in mainland China. Metals have been broadly steady over the past week on positive Chinese economic data releases, BMI analysts say in a note. However, further gains were largely capped by persistent global trade turbulence, including new U.S. tariff measures, reciprocal trade restrictions and increased export controls in key markets. Markets were in wait-and-see mode after President Trump's larger-than-expected 50% tariff on copper imports, awaiting further policy updates, the analysts add. LME three-month aluminum is flat at $2,589.50 a ton. ([e-mail])

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European Gas Price Edges Lower, With TTF Below 35 Euros -- Market Talk

0911 GMT - European natural-gas prices dip slightly in early trade, with the benchmark Dutch TTF contract down 0.5% to 34.65 euros a megawatt hour. EU storage levels are nearly 64% full, the lowest seasonal level in the last three years. However, a potential cooler weather pattern towards the end of July and into August could soften demand from air conditioning, analysts at ANZ Research say. Prices rose above 35 euros earlier this week partly due to unplanned outages at Norway's Nyhamna and Kollsnes processing plants and growing competition with Asia for LNG cargoes. Meanwhile, the EU approved a fresh sanctions package on Russia that includes a ban on Nord Stream gas pipelines. ([e-mail])

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Oil Lifted by Fresh EU Sanctions on Russia, Attacks on Oilfields in Iraq's Kurdistan

0811 GMT - Oil prices rise in early trading, buoyed by concerns over supply disruptions following drone strikes on oilfields in Iraq's Kurdistan region and fresh EU sanctions targeting Russia's energy sector. Brent crude and WTI both gain 0.5% to $69.85 and $66.58 a barrel, respectively. EU's new sanctions include a ban on Nord Stream pipelines and a lower oil-price cap, EU's foreign policy chief Kaja Kallas says in a post on X. Meanwhile, attacks on Kurdish oilfields have shut down more than 200,000 barrels a day of production, according to the Association of the Petroleum Industry of Kurdistan. Prices are also supported by near-term fundamentals pointing to a fairly tight market through the quarter. "Despite OPEC+ steadily unwinding supply curbs, near-term contracts for crude and gasoil remain in backwardation[when prices for immediate delivery are higher than those in the future], signalling supply constraints," says MUFG's Soojin Kim. ([e-mail])

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Gold Futures on Track for Weekly Loss on Stronger Economic Data -- Market Talk

0745 GMT - Gold futures rise 0.3% to $3,354.50 a troy ounce in relatively muted trading, but are on track for a small weekly loss amid uncertainty over Federal Reserve interest rate cuts and resilient U.S. economic data. Stronger jobless claims and retail sales have left markets cautious ahead of the next Fed meeting, as high interest rates typically damp non-interest bearing bullion's appeal, MUFG analysts say in a note. That said, the precious metal remains up 27% in the year to date on geopolitical risks and concerns over dollar-denominated assets as the U.S. dollar slides, MUFG says. Gold prices have been broadly rangebound recently as the market waits for clarity around U.S. trade policy, tariffs and the outlook for rate cuts, analysts add. ([e-mail])

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European Oil Companies Rise as Oil Prices Gain -- Market Talk

0731 GMT - European oil companies trade up in opening trade after getting a boost from rising oil prices. Brent crude prices are up 0.8% at $70.08 a barrel as seasonal travel demand provides some support to prices, head of equity research at Hargreaves Lansdown Derren Nathan writes. In London, BP trades up 1.5% and Shell rises 1.2%. France's TotalEnergies rises 0.9%; Italy's Eni, Spain's Repsol and Portugal's Galp rise around 1%. Consumption in July is edging slightly above last year's levels to 105.2 million barrels a day, Nathan writes. However, tariff uncertainty and the prospect of a glut of oil supply means markets haven't managed to fully erase losses seen earlier in the week, he adds.([e-mail])

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Iron Ore Rises on Improved Sentiment -- Market Talk

0221 GMT - Iron ore rises in early Asian trade. Investors are optimistic about improving steel mill margins amid China's efforts to remove overcapacity, while prospects for fresh stimulus for the property sector has also improved sentiment, the ANZ Research team says in a note. Market expectations of sector-based stimulus are well founded, and the policy that will have the best chance of stabilizing the sector is the government buying up excess housing inventory, which can improve the credit health of developers and ease their financial stress, Vivek Dhar of Commonwealth Bank of Australia says in a note. The most actively traded September iron-ore contract on the Dalian Commodity Exchange is up 1.3% at CNY792.5 a ton. ([e-mail])

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(END) Dow Jones Newswires

07-18-25 1019ET