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

0847 ET - Oil futures start the week higher after the U.S. and Iran increased their strikes at the weekend, reducing vessel passage through the Strait of Hormuz. WTI is up 4% at $74.27 a barrel and Brent is up 4.1% at $79.10. "What the market is pricing is not the strikes themselves but the damage to diplomacy," Anindya Banerjee of Kotak Neo says in a note. While every fresh exchange delays normalization of tanker traffic through the strait, both the U.S. and Iran have incentives to contain the situation, he says. "Washington wants oil cheap ahead of its midterm elections and Tehran wants sanctions relief, and Qatari mediation remains active--so our base case is a contained conflict rather than a full re-closure." (anthony.harrup@wsj.com)

0807 ET - Cocoa price volatility will persist as speculative traders enter the market and key demand data shapes investor outlooks, HCCO analysts write. Prices jumped 13% last Monday at the start of a week of whipsaw trade. However, the small decline in short bets by speculative traders suggests that last week's rally wasn't entirely driven by short investors covering their positions, the analysts write. Instead, the decline suggests that so-called cocoa tourists--investors who don't usually trade cocoa--are becoming increasingly active in the market to capitalize on high volatility, HCCO says. Quarterly cocoa grinding data--a key measure of demand--will be released for Europe, Asia and North America on Thursday, likely driving further volatility, the analysts say. Cocoa futures fall 8% to $5,581 a metric ton. (josephmichael.stonor@wsj.com)

0610 ET - Palm oil rose in Asian trading. Prices are likely to remain relatively steady this week as Indonesia rolls out its 50% biodiesel program to cut gasoil imports, Nomura analysts write in a note. Higher crude oil prices and concerns over El Nino have so far been offset by weaker exports, they say. Nomura expects CPO prices to remain at around 4,500 ringgit a ton this week, but it could fall towards 4,400 ringgit a ton if exports continue to weaken and crude oil prices decline. The Bursa Malaysia Derivatives contract for September delivery rose 22 ringgit to 4,535 ringgit a ton. (kimberley.kao@wsj.com)

0515 ET - The Indonesian government's efforts to centralize management and curb tax leakages in the resources and mineral sectors are expected to gradually boost state revenue and export earnings if policy implementation improves, S&P Global Ratings says in a note. Indonesia's weaker fiscal and external positions, caused by high energy prices, higher interest rates, a weaker rupiah, policy uncertainty and rising debt, are temporary and should improve with higher commodity prices and government spending cuts, it says. S&P affirms Indonesia's BBB long-term sovereign credit rating, and expects the government to keep its fiscal deficit below the legal ceiling of 3% of GDP. It expects Indonesia's economy to grow 5.1% this year despite robust 5.6% growth in 1Q, due to continued external uncertainties and higher domestic interest rates. (yingxian.wong@wsj.com)

0418 ET - Gold prices might face some short-term pressure, according to GivTrade's Waleed Said. The yellow metal is falling as expectations for tighter interest rates are outweighing the safe-haven trade, the analyst says. "Higher oil prices are lifting Treasury yields and the dollar, making non-yielding gold less attractive," the analyst says. Rising tensions between the U.S. and Iran may still provide support for the precious metal's price, he adds. Spot gold is down 1.3% at $4,068.15 an ounce. (tracy.qu@wsj.com)

0333 ET - Gold futures slide more than 1% after fresh strikes between the U.S. and Iran sent oil prices higher, reviving concerns about inflation and prospects of tighter monetary policy. In early trading, New York gold was down 1.2% at $4,066.10 a troy ounce. The latest escalation, which is renewing concerns over the future of the Strait of Hormuz and supply tightness in the third quarter, pushed U.S. Treasury yields and the dollar higher, adding further pressure on non-yielding precious metals. Investors are now awaiting upcoming U.S. inflation data and Federal Reserve Chair Kevin Warsh's congressional testimony for fresh clues on the outlook for interest rates. (giulia.petroni@wsj.com)

0244 ET - Charoen Pokphand Foods stands to benefit from a likely rebound in meat prices in 2H, Maybank Securities (Thailand)'s Tanida Jirapornkasemsuk says in a research report. Thailand's swine and broiler prices should recover in 2H from 1H, supported by tighter supply and cost-push factors, the analyst says. The agro-industrial and food conglomerate's feed corn costs in Thailand are also likely to fall from August onward as supply increases during the country's corn harvest season. The brokerage upgrades the stock's rating to buy from hold and raises the target price to 24.50 baht from 20.90 baht. Shares are 1.35% lower at 21.90 baht. (ronnie.harui@wsj.com)

2346 ET - Aluminum is little changed in early Asian trading. Prices are under pressure due to expectations of improving supply, ANZ research analysts say in a commentary. Emirates Global Aluminium said last week that it restarted a key alumina plant in Abu Dhabi, which was attacked during the early stages of the Middle East conflict. However, tensions in the region will likely remain on investors' radar, with the U.S. and Iran trading a new round of attacks in their fight over the Strait of Hormuz. The three-month LME aluminum contract is flat at $3,140.50 a ton. (tracy.qu@wsj.com)

2251 ET - Any near-term weakness in crude palm oil prices could be temporary and may provide a buying opportunity for plantation stocks, CGS International analysts Jacquelyn Yow and Prem Jearajasingam say in a note. Palm oil inventories are likely to remain elevated during the peak production season in 3Q, weighing on near-term prices, they say. However, they expect prices to strengthen later this year as supply risks increase, driven by a potential strong El Nino, lower fertilizer use and Indonesia's plantation land seizures that could weaken output. CGS maintains an overweight rating on the Malaysian plantations sector, pegging TA Ann and Hap Seng Plantations as top picks. (yingxian.wong@wsj.com)

2245 ET - Palm oil rises in early Asian trading, driven by bargain hunting, AmInvestment Bank says in a note. Technical analysis suggests crude palm oil futures could remain bearish in the short term, it writes. Market sentiment could also stay cautious, as rising inventories and weaker-than-expected export growth point to ample supplies, AmInvestment Bank adds. It expects prices to face resistance at 4,570 ringgit a ton and find support at 4,460 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 26 ringgit higher at 4,539 ringgit a ton. (yingxian.wong@wsj.com)

2224 ET - Malaysia's crude palm oil stocks could increase 5.4% on month to 2.68 million tons in July, as production may outpace export growth, CIMB Securities analyst Ivy Ng Lee Fang says in a note. She expects CPO prices to remain firm in the 4,300 ringgit to 4,600 ringgit a ton range in the near term. Strong El Nino risks and Indonesia's B50 biodiesel program will likely help offset pressure from higher inventories. CIMB maintains an overweight rating on the Malaysian plantation sector. IOI, Kuala Lumpur Kepong and Hap Seng Plantations are its top picks.(yingxian.wong@wsj.com)

2222 ET - Iron ore falls in early Asian trade. Oversupply pressures are likely to intensify as supplies from Australia, Brazil and new sources increase, ANZ Research strategists say in a note. This would limit room for iron-ore prices to rise further, they add. The underlying demand for iron ore looks fragile, with weak downstream steel consumption and restocking momentum already fading. The most-traded iron ore contract on the Dalian Commodity Exchange is last down 0.4% at 745.0 yuan a ton. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

July 13, 2026 09:15 ET (13:15 GMT)

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