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

0835 GMT - London-listed energy company Ithaca Energy maintains "an active but patient pursuit of M&A opportunities," the company says in its half-year report. These opportunities could be in the U.K. or elsewhere as it continues with its international expansion strategy, it says. Shares rise 5.4% to 265.20 pence. (adam.whittaker@wsj.com)

0823 GMT - European gas prices reached an intraday high of 64 euros a megawatt-hour, their highest level since January 2023, as investors fear the Strait of Hormuz could remain closed into the winter. Europe's gas storage levels are unusually low at 61% full, compared with a five-year average of 78%, leaving Europe with a smaller buffer ahead of winter and more dependent on LNG imports. "Europe has struggled to refill its gas stores this summer as a direct consequence of the Middle East conflict," says Natasha Fielding from Argus. "The closure of the Strait of Hormuz has curbed global LNG supply, and Asia has drawn cargoes away from Europe to make up for a shortfall in Qatari LNG deliveries." In midmorning European trading, the benchmark Dutch TTF contract slips 0.7% to 63.17 euros a megawatt-hour, but is up 10% on the month.(giulia.petroni@wsj.com)

0805 GMT - Ithaca Energy's record second-quarter production helped solid cash flow and confidence in the medium-term production outlook, Berenberg analysts say. The British oil-and-gas company also has a strong balance sheet, which can support organic investment and help with U.K. and international merger and acquisition ambitions, they add. Berenberg remains confident in the medium-term production and shareholder returns outlook for Ithaca. The analysts maintain a buy recommendation on the stock with a price target of 270 pence. Shares are up 4.9% at 264 pence. (michael.hennessey@wsj.com)

0757 GMT - Eurozone government bond yields edge lower, moving in line with U.S. Treasury yields, as global bond markets stabilize after Tuesday's selloff. Input from economic data is likely to be limited, with final inflation figures for July due. "We will get additional details on the drivers of inflation, all of which seemed relatively benign in July," RBC Capital Markets' analysts say in a note, expecting the flash estimate data to be confirmed. Supply will come from Germany which auctions 6 billion euros in August 2036 Bund, while Finland is set to go ahead with the syndicated launch of a new seven-year bond. The 10-year Bund yield declines 0.2 basis points to 3.253%, having hit a high of 3.272% on Tuesday, according to LSEG. (emese.bartha@wsj.com)

0752 GMT - Oil prices rise for a fourth day as talks to reopen the Strait of Hormuz and end the Iran war stall after nearly six months of conflict. In early European trading, Brent crude is up 0.2% at $91.26 a barrel, while WTI futures rise 0.3% to $84.37 a barrel. "Brent crude remains above $90 a barrel as geopolitical tensions and uncertainty surrounding the Strait of Hormuz keep a significant risk premium in energy markets," analysts at IG say. President Trump said Tuesday that there are no ongoing or scheduled talks with Tehran and that the U.S. naval blockade remains in full force. Meanwhile, the U.A.E. halted trade and financial transactions with Iran amid escalating regional tensions. (giulia.petroni@wsj.com)

0728 GMT - Sembcorp Industries remains well-positioned to benefit from long-term artificial intelligence and data-center-related demand, OCBC Group Research analyst Chu Peng says in a note. The energy and urban solutions provider has secured over 1 gigawatt of contracted power supply in Singapore and established platforms across Australia, the U.K. and Asean. However, the analyst warns that the company's renewables segment is likely to keep facing headwinds from resource uncertainty, curtailment and tariff pressures in China. OCBC has a buy rating on the stock and a fair value estimate of 7.20 Singapore dollars. Shares are 0.8% lower at S$6.03.(amanda.lee@wsj.com)

0723 GMT - Bitcoin falls following declines in U.S. stocks overnight as a selloff in global government bonds and Middle East tensions weighed. Global bonds yields surged on Tuesday, reflecting inflation concerns and deficit fears. "Higher yields remain our main worry for the market," Jefferies economist Mohit Kumar says in a note. Inflationary pressures are likely not just from oil prices but also food prices due to droughts, which are external shocks that won't be offset by higher interest rates, he says. There is also no easy way out of the U.S.-Iran conflict, he says. President Trump said no talks with Iran are underway or scheduled after a U.S.-Iran ceasefire expired Monday. Bitcoin drops 0.4% to $64,306, LSEG data show. (renae.dyer@wsj.com)

0649 GMT - Nordic markets are seen opening slightly lower, with IG calling the OMXS30 down 0.1% at around 3241. Stock markets fell on Tuesday as the lack of a solution around the Strait of Hormuz and continued high long-term interest rates weighed on sentiment, SEB head of analysis Karl Steiner writes. Oil prices are higher and seem to be heading back towards $100 per barrel, he says. Asian stock markets are mostly lower and Europe and U.S. stock market futures indicate a slightly negative opening. Fed minutes due later are one of the most important events of the week, Steiner says. OMXS30 closed at 3244.67, OMXN40 at 2683.58 and OBX at 2012.11. (dominic.chopping@wsj.com)

0622 GMT - China Aviation Oil (Singapore) Corp.'s earnings are likely to be stronger in 2H, based on management's guidance, CGS International analysts say in a note. Drivers include stronger income at the jet-fuel trader on the back of jet-fuel trading volume recovery and continued growth in the sustainable aviation fuel market, the analysts say. There are also potential incremental trading flows as CAO integrates into Sinopec's value chain following the Sinopec-China National Aviation Fuel Group merger. The brokerage maintains the stock's add rating, but lowers the target price to 2.45 Singapore dollars from S$2.68 to reflect a lowered P/E multiple assumption for CAO associate Shanghai International Airport. Shares are unchanged at S$1.62. (ronnie.harui@wsj.com)

0555 GMT - Rising oil and bond yields often go hand in hand with higher prices and "inflation remains in the driver's seat for stocks," says Kevin Gordon at Schwab Center for Financial Research. Bond yields and stocks now have the most negative correlation since 1997, meaning when one goes up the other goes down, according to the head of macro research and strategy. "This implies that the bond market is keying more off inflation data than growth data, giving inflation the upper hand when it comes to equities," he says in a note. Gordon adds that there is growing concern about the Federal Reserve hiking rates before year-end.