The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0608 GMT - Ithaca Energy continues to target first oil from the Rosebank field in the first six months of 2027, Barclays analyst Naisheng Cui writes. The development has been entangled in legal reviews but a decision is expected soon. Drilling is continuing and the floating production, storage and offloading ship is on-site. At its production plateau, Rosebank is expected to contribute around 10%-12% of group production, Cui writes after a fireside chat with Executive Chairman Yaniv Friedman at the Barclays CEO Energy-Power Conference. Shares closed Tuesday at 271.20 pence. (adam.whittaker@wsj.com)

0604 GMT - Malaysia's 2027 budget could carry an election-friendly tone that benefits certain domestic-facing sectors, TA Securities analyst Kaladher Govindan says in a note. Likely priorities include rail infrastructure projects in Penang and Johor, flood-mitigation and water infrastructure, as well as AI, data centers and semiconductor manufacturing incentives. Cost-of-living relief is also probably on the table. Sectors including construction, property and utilities are expected to benefit the most from fiscal spending, he says. Technology and plantation sectors could also gain from targeted incentives to support long-term growth. TA Securities flags Gamuda, Tenaga Nasional, Telekom Malaysia, Nestle (Malaysia) and Sime Darby Property as among the companies that stand to gain. (yingxian.wong@wsj.com)

0544 GMT - Ithaca Energy has an expanding pipeline of development projects and capital-allocation flexibility, Barclays analyst Naisheng Cui writes. The company believes scale matters and could invest in U.K. North Sea projects or international expansion, the analyst writes after speaking to Chairman Yaniv Friedman at the Barclays CEO Energy-Power Conference. Ithaca has three developments that could reach a final investment decision, and over 200 million barrels of oil equivalent 2C resources under projects heading for potential FID in 2026 and 2027. 2C reserves are those that haven't yet met the threshold for commercial production. Shares closed Tuesday at 271.20 pence. (adam.whittaker@wsj.com)

0443 GMT - Doosan Enerbility's potential participation in a U.S. gas power plant project could expand its footprint in the global gas turbine market, say Nomura's Cindy Park and Dongmin Lee. The analysts expect the South Korean company to supply four 380-megawatt gas turbines for an initial phase of the 6.3-gigawatt gas power plant in Texas--a part of the 2025 U.S.-South Korean investment deal. They expect Doosan to secure additional gas turbine orders as the multi-phase energy project advances. Nomura maintains a buy rating and a target price of 110,000 won on the stock. Shares are 2.5% higher at 91,700 won.(kwanwoo.jun@wsj.com)

0138 GMT - Idemitsu Kosan's earnings are likely to be supported by wider margins of export products, Jefferies analysts say in a report. Earlier this year, the Iran-related crude supply shock forced Japanese refiners like Idemitsu to slow operations and prioritize domestic supply. This headwind is now reversing as alternative crude procurement has restored utilization, the U.S. bank says. Idemitsu is likely to benefit from strong crude procurement and surplus export capacity, Jefferies says. A recovery in the Vietnam joint venture Nghi Son Refinery and Petrochemical is also a positive catalyst, the bank says. Jefferies raises its rating on Idemitsu to buy from hold and its target price to 2,200 yen from Y1,400. Shares are up 5.4% at Y1,626.5. (kosaku.narioka@wsj.com; @kosakunarioka)

0024 GMT - Amplitude Energy's intersection of natural gas with its Juliet-1 exploration well should spark relief among investors given two earlier setbacks in its drilling campaign, says Jarden. Its target price rises by 9.7% to 2.03 Australian dollars a share to capture 50% of its unrisked valuation for Juliet of A$0.36/share. Previously, Jarden had a zero risk weighting given negative results from the earlier Elanora and Isabella prospects. "While some boxes remain to be ticked before we can call Juliet a gas discovery, all data released to date points to a positive outcome," analyst Nik Burns says. Amplitude's drilling campaign aims to find natural gas to support its East Coast Supply Project in southeastern Australia. Jarden rates the stock at overweight; the stock is up 1.1% at A$1.89 Wednesday, and up some 14% so far this week. (david.winning@wsj.com; @dwinningWSJ)

1912 GMT - Oil futures extend their gains as the Middle East conflict escalates with Houthi attacks on Saudi infrastructure and continuing strikes in the Strait of Hormuz. "It doesn't seem like President Trump has any kind of good off-ramp here. And it feels like the Iranians despite the blockade feel they're in a good negotiating position, and so it's hard to see things getting resolved quickly," says David Grumhaus, chief investment officer at Duff & Phelps Investment Management. Also, with U.S. strategic oil reserves drawn down to low levels, those releases will have to be reduced, he adds. "I think oil is likely to remain elevated." WTI settles up 1.9% at $93.03 a barrel, a three-month high. Brent rises 0.9% to $97.92, its highest settlement since July 23. (anthony.harrup@wsj.com)

1641 GMT -- Qatar leads major Gulf stocks higher, with the QE Index rising 0.7%. Abu Dhabi's benchmark index advances 0.5%, the Dubai Financial Market General Index gains 0.3% and Saudi Arabia's Tadawul All Share Index edges up 0.1%. Kuwait Financial Centre Markaz says GCC equities are expected to remain driven by oil prices and regional geopolitical developments, while resilient non-oil activity and strong fiscal positions continue to support regional economies. Oil prices remain elevated after fresh attacks on Saudi energy infrastructure, with Brent nearing $100 a barrel in early European trading before retreating to around $97.80, while WTI futures also rise to about $93.76 a barrel. (farhan.rafid@wsj.com)

1411 GMT - Bank of America lifts its oil price estimates as strikes resume in the Persian Gulf, threatening further supply disruptions. "Renewed military tensions between the U.S. and Iran, including attacks on oil tankers, have kept uncertainty and volatility elevated," analysts at BofA Global Research say in a note. They see Brent crude averaging $83 a barrel in the second half of this year and $75 a barrel in 2027. Previously they expected Brent in a $70-$80 range in 2H26 and to average $70 in 2027.They still expect a gradual normalization of Strait of Hormuz flows, but "if skirmishes curbing oil flows continue into year-end, Brent could trade in a $95-$120/barrel range." (anthony.harrup@wsj.com)

1253 GMT - Oil futures start the U.S. trading week higher and Brent flirts with the $100 level as Iran-backed Houthis launched attacks on Saudi energy infrastructure. "A bullish trading stance still appears warranted, at least until some indication of renewed negotiations is forthcoming," Ritterbusch & Associates says in a note. The increase in shipping through the Strait of Hormuz is "likely precluding another visit in Brent to the $120 level seen early in the war," the firm says, although renewed attacks in the strait remain a risk. WTI is up 2.1% at $93.40 a barrel and Brent is 1.4% higher at $98.33. (anthony.harrup@wsj.com)

0935 GMT - Rubis's profit upgrade is a positive surprise, Bernstein analysts Guillaume Delaby and Gareth Williams write. The French energy group reported an 18% rise in earnings before interest, taxes, depreciation and amortization for the first half of the year and raised its guidance on the metric to between 775 million and 825 million euros from 740 million to 790 million euros previously. "While activity may soften in 2H26, it is now unlikely to soften as much as we had feared following the company's 1H26 pre-earning call," the analysts say. Bernstein has an outperform rating on the stock and 38.70-euro target price. Shares are up 5.2% at 35.62 euros. (ian.walker@wsj.com)

0829 GMT - Copper is becoming increasingly important to the energy transition, given its key role in power grids, electric vehicles, renewable generation and energy storage, Saxo Bank analyst Ole Hansen writes in a note. Benchmark LME copper futures hit a record $14,624.50 a metric ton, supported by persistent market tightness as miners struggle to keep pace with robust demand ahead of China's annual peak-demand season, he says. Copper is also difficult to substitute at scale, with alternatives such as aluminum involving trade-offs in conductivity, efficiency, weight and reliability, Hansen says. This should keep demand relatively resilient as electrification accelerates, while long lead times and technical challenges in developing new mines constrain the market's ability to respond quickly to stronger consumption, he adds.