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.

0319 GMT - KCE Electronics is likely to face an earnings hit from the 25% auto tariffs from the U.S. that are expected to take effect this Wednesday, Maybank Securities (Thailand)'s Yugi Takeshima says in a research report. Given that at least 50% of the Thai company's revenue comes from the West's automotive sector, the brokerage estimate that if the tariffs are permanent, they would probably have lasting repercussions. Citing a likely slump in demand from the supply chain shock in the global automotive sector from the tariffs, the brokerage cuts its 2025 core earnings forecast for the printed-circuit-board supplier to the automotive industry by 24%. It downgrades the stock's rating to sell from buy and lowers the target price to THB13.90 from THB27.00. Shares last closed at THB16.00. (ronnie.harui@wsj.com)

0302 GMT - Petronas Gas may see a short-term share price decline of 1.8%-2.1% following the gas pipeline fire in Selangor state, but long-term recovery will depend on how effectively it manages the aftermath, MIDF Research says in a note. It estimates total financial impact at 1%-1.5% of Petronas Gas' earnings and an one-off impairment of about MYR18 million-MYR25 million, with minimal operational disruptions as gas flow is diverted. The research house expects additional costs of at least MYR5 million over two-three months for compensating industrial customers directly impacted by the damaged pipeline. MIDF maintains a buy rating on Petronas Gas and keeps target price at MYR18.67, citing the company's prompt response and expected adherence to planned recovery timeline. Shares are 1.8% lower at MYR16.58. (yingxian.wong@wsj.com)

1943 GMT - Oil's sanction-fueled rally runs out of steam as the market braces for the Trump administration to unveil its tariff plan tomorrow, which many in the market see as likely to hurt global growth and demand. The boost from President Trump's comments about possibly sanctioning buyers of Russia's oil is tempered by OPEC+ starting to unwind 2.2 million barrels a day of output cuts over 18 months, with increases estimated at 138,000 barrels a day in April. WTI settles down 0.4% at $71.20 a barrel, and Brent falls 0.4% to $74.49 a barrel.(anthony.harrup@wsj.com)

1716 GMT - Crude futures turn lower in choppy trade, retreating from five-week highs reached yesterday after President Trump said he could sanction buyers of Russian oil. "The market's response has been fairly muted as participants partially consider this as a mechanism to accelerate the ceasefire and ending the [Russia-Ukraine] war," Janiv Shah of Rystad Energy says in a note. The threat also coincides with OPEC+ starting to gradually unwind 2.2 million barrels a day of output cuts with an estimated 138,000 b/d this month. "The unwinding of OPEC+'s cuts has somewhat mitigated the reduced flow threat as OPEC+ spare capacity exists above 5 million barrels per day," Shah says. India and China are the main buyers of Russian oil. WTI is off 0.4% at $71.21 a barrel, and Brent is down 0.3% at $74.54 a barrel. (anthony.harrup@wsj.com)

1456 GMT - Canada's ban on single-use plastics is already in legal limbo. Now, the Trump administration has identified the policy as a major foreign-trade barrier, in a new report from the US Trade Representative. The regulations "would create negative impacts for trade," the USTR says, adding it would thwart agriculture exports to Canada. The administration encourages Ottawa to use a "science-based approach" to address plastic pollution. The ban is on hold after a Federal Court of Canada ruling 16 months ago judged the Liberal government's plastics policy as unreasonable and unconstitutional, adding officials failed to provide evidence that items such as straws and stir sticks are toxic, as per cabinet order. US lobby groups, chemical maker Dow and Exxon subsidiary Imperial Oil supported the court challenge. (Paul.Vieira@wsj.com; @paulvieira)

1341 GMT - Oil futures creep higher with bullish implications of threatened U.S. sanctions against Russian oil and tighter enforcement against Iranian crude countered by caution ahead of tomorrow's expected U.S. tariff announcements and their potential impact on economic growth. OPEC+ is scheduled to start the gradual unwinding of 2.2 million barrels a day in output cuts with an estimated 138,000 barrels a day this month, offset by pledges by some members to compensate for previous overproduction. WTI is up 0.2% at $71.61 a barrel, and Brent is 0.1% higher at $74.84 a barrel as the front month switches to June. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

April 02, 2025 04:20 ET (08:20 GMT)

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