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

0827 GMT - Base metals tick higher in early European trade, with all eyes on the Middle East war's impact on supply and growth prospects. Three-month copper prices on the London Metal Exchange rise 0.6% to $12,190 a metric ton, but are down 8% on the month due to concerns that higher energy costs will curtail economic activity and demand. Aluminum edges 0.2% higher to $3,261.50 a ton as supply disruptions in the Persian Gulf and uncertainty around the state of U.S.-Iran negotiations weigh on the outlook. "Overall, we see the complex in a holding pattern, with metals reacting selectively to geopolitical risk but lacking broader momentum," Sucden Financial analysts say in a research note. "The muted volumes reinforce the view that markets are waiting for a clearer macro signal before committing to a directional move." (giulia.petroni@wsj.com)

0819 GMT - The dollar turns higher as doubts over an imminent resolution to the Middle East conflict boost oil prices and safe-haven assets. President Trump's decision to extend a pause on striking Iranian energy infrastructure for 10 days has brought little relief, ING's Chris Turner says in a note. "Presumably, investors are well aware of the Iranian position that it has been attacked before in the middle of negotiations, and in turn, the 10-day delay is providing little solace." Barring some conciliatory words from Iran, which seems unlikely, the dollar should remain supported and risky assets vulnerable, he says. The DXY dollar index rises 0.1% to a four-day high of 100.028 and ING sees scope for it to reach 100.50.(renae.dyer@wsj.com)

0817 GMT - China's official purchasing managers' index data likely improved in March, Goldman Sachs economist Chelsea Song says in a research note. The bank expects the official manufacturing gauge to rise to 50.5 from 49.0 in February, and the official non-manufacturing gauge to increase to 50.1 from 49.5 in February. Seasonal normalization after the Lunar New Year, including workers returning and steadier services activity, likely supported the rebound, the economist says. (tracy.qu@wsj.com)

0756 GMT - Gold prices rise in early trading after President Trump paused strikes on Iran's energy sector for 10 more days, but remain on track for a weekly loss as higher energy prices fuel concerns over inflation and higher interest rates. "The recent price action highlights how gold, during a supply-driven macro shock, has shifted into a source of liquidity-behaving more like a risk asset and moving in line with broader market stress, thereby failing to provide traditional safe-haven support," Saxo Bank analysts say in a research note. New York futures rise 1.6% to $4,445.40 a troy ounce, but are down 3.5% on the week. (giulia.petroni@wsj.com)

0801 GMT - Sterling is little moved, remaining weaker against the dollar and the euro even after data showed U.K. retail sales fell less than expected in February. Retail sales dropped 0.4% month-on-month in February following an upwardly revised 2.0% rise in January. Economists in a WSJ survey expected a 0.8% decline. However, the market's focus is on the Iran war which is expected to increase U.K. inflationary pressures and potentially hit growth due to rising energy prices. Markets are treating data collected before the conflict as backward-looking. Sterling falls 0.1% to $1.3317 after the data, compared to $1.3333 before the data but driven by a stronger dollar. The euro rises 0.1% to 0.8652 pounds, little changed from levels before the data. (renae.dyer@wsj.com)

0759 GMT - Eurozone government bond yields rise, tracking an increase in U.S. Treasury yields, due to a lack of tangible de-escalation in the Middle East war. Concerns are gaining traction that disruptions to energy supplies could last "much longer than initially feared," ING's Michiel Tukker and Benjamin Schroeder say in a note. The 10-year German Bund yield rises to 3.093%, the highest level since 2011, up 3.7 basis points on the day, according to Tradeweb. Yields on most other 10-year eurozone bond yields rise by 5 basis points or more, with the Italian BTP yield up 6.9 basis points at 4.054%. On Friday, Italy will hold a government bond auction with up to 8.5 billion euros on offer. (emese.bartha@wsj.com)

0756 GMT - China's factory activity likely returned to the neutral mark in March, according to ING economists in a research note. This would be an early sign that industrial momentum is stabilizing. ING forecasts the official manufacturing PMI to reach 50.0 in March, up from 49.0 in February, after the gauge spent 10 out of the past 11 months in contraction territory. "A move to 50 or above would be welcome news," they say. China is due to report its PMI data next Tuesday. (tracy.qu@wsj.com)

0750 GMT - Bitcoin edges lower as heightened uncertainty over the Iran war keeps investors cautious over risky assets including cryptocurrencies. President Trump said he was extending the pause on striking Iranian energy infrastructure for 10 days. However, the WSJ reports that the Pentagon is looking to send up to 10,000 additional troops to the Middle East to give Trump more military options. Doubts over a swift end to the conflict sent U.S. equities lower overnight on renewed broad-based risk aversion. Bitcoin falls 0.1% to $68,739, LSEG data show. (renae.dyer@wsj.com)

0743 GMT - The dollar trades steady as investors digest conflicting news over the Middle East conflict. President Trump said he was extending the pause on striking Iranian energy infrastructure for 10 days. Trump said the extension was at Iran's request but Iran denied asking for additional time. Moreover, The Wall Street Journal reports that the Pentagon is looking to send up to 10,000 additional troops to the Middle East to give Trump more military options. More concrete signs of talks would be taken positively by investors but "they also have to grapple with the potential for further escalation," Deutsche Bank analysts say in a note. The DXY dollar index trades flat at 99.935. (renae.dyer@wsj.com)

0740 GMT - Oil prices are on a track for weekly declines after President Trump decided to pause strikes on Iran's energy sector for 10 more days, though markets remain on edge amid conflicting signals over negotiations to end the war. Trump said the extension was at Iran's request, while mediators said Iran didn't ask for additional time. Meanwhile, The Wall Street Journal reported that the Pentagon is looking at sending up to 10,000 additional ground troops to the Middle East. In early European trading, Brent crude rises 1% to $102.88 a barrel, while WTI is up 0.8% to $91.87 a barrel. "The Middle East conflict remains unresolved, with continued strikes and no meaningful progress on reopening the Strait of Hormuz, keeping the risk premium in energy markets firmly intact," analysts at Sucden Financial say. (giulia.petroni@wsj.com)

0721 GMT - Singapore could move up the gold value chain and turn into an active trading and clearing center for gold-related products, says DBS's Jacky Tai in an email. Singapore's central bank and its precious-metals industry association are looking to strengthen the city-state's gold-trading appeal. Creating an ecosystem spanning capital-market instruments and physical infrastructure could deepen the market's liquidity, he says. Singapore potentially offering vaulting services to foreign central banks and sovereign entities also underpins the city-state's appeal as a well-regulated jurisdiction, he adds. DBS, part of the central bank's gold market development group, is also exploring how "innovative solutions that leverage new technology" can be applied to gold-related capital market products, he adds, noting rising interest in Singapore-based physical gold capabilities. (megan.cheah@wsj.com)

0720 GMT - Thailand's domestic-oriented sectors are likely to face a significant impact from the country's fuel-price increase that took effect Thursday, CGS International's Kasem Prunratanamala says. The Thai Oil Fuel Fund Committee approved a nationwide increase of THB6 per litre across all fuel types, the analyst notes. This fuel-price increase is negative for oil-sensitive and domestic demand sectors, such as transport, commerce, construction and consumer discretionary industries. Conversely, the energy sector is expected to outperform, as higher oil prices directly boost earnings. The brokerage's top picks include PTT, PTT Exploration and Production, True Corp., Bangkok Dusit Medical Services, among others.(ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 27, 2026 04:27 ET (08:27 GMT)

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