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

1126 GMT - Brent crude has been hovering around $75 a barrel since the beginning of the month likely due to pending policy decisions that could shift price direction, according to Commerzbank Research. "Oil prices appear to have been 'frozen' [...] a number of decisions are pending that could drive the oil price in one direction or the other," says Barbara Lambrecht. Future price movements will depend on OPEC+'s output decision, negotiations to end the war in Ukraine, the U.S.'s stance on Iran and President Trump's plan to rebuild strategic reserves, the commodity analyst says. According to Commerzbank, OPEC+ will likely delay its planned oil output increase to ensure the market doesn't risk a significant supply surplus and prevent prices from declining in the course of the year. (giulia.petroni@wsj.com)

1016 GMT - Palm oil ended higher, supported by an improving regional economic landscape and the potential for short-covering activities ahead of the weekend, which could provide a supportive tone to the market, according to Kenanga Futures analysts in a commentary. Looking ahead, the next key resistance is at MYR4,700/ton, according to Phillip Nova analyst Lim Tai An. A successful breakout above this level could propel prices to MYR4,770/ton, while failure to break through would likely lead to a retracement towards the MYR4,550 level, the analyst says. The Bursa Malaysia Derivatives contract for May delivery rose MYR22 to MYR4,664/ton. (tracy.qu@wsj.com)

1011 GMT - OPEC+ is expected to delay the output hike planned for early April amid an uncertain economic and geopolitical outlook, according to analysts at ANZ Research. "The downside for prices is high if OPEC proceeds with production hikes," they say. The cartel and its allies face potential challenges from shifting U.S. policy and risks of a trade war, while renewed maximum pressure on Iran, sanctions on Russia and the halt of Venezuelan crude oil purchases add to the complexity. At the same time, rising fiscal pressure pushes OPEC members to focus on maximizing revenue, according to ANZ. "OPEC's ability to phase out production cuts without disrupting the oil market is getting increasingly difficult," the analysts say. (giulia.petroni@wsj.com)

0907 GMT - Crude futures edge lower in early trade but are still poised for weekly gains of more than 1.5% on rising supply concerns and a weaker U.S. dollar. Prices are supported by disruptions to Kazakhstan's oil flows after a Ukrainian drone attack on a major pipeline in Russia and prospects that OPEC+ could delay its output hike plans. The market is also keeping a close eye on developments in U.S.-Russia talks to end the war in Ukraine. Meanwhile, the latest data showed U.S. crude stockpiles rose more than expected last week, while gasoline inventories and distillate fuel stocks fell. According to analysts at Saxo, "the market continues to lack a clear direction, with supply disruptions in Kazakhstan and the OPEC+ production increase delay being offset by global demand worries." Brent crude is down 0.7% to $75.93 a barrel, while WTI falls 0.8% to $71.92 a barrel. (giulia.petroni@wsj.com)

0831 GMT - Sembcorp Industries is poised to post earnings CAGR of over 10% through 2028, as its three key segments enter expansion mode, DBS Group Research's Pei Hwa Ho says in a research report. Its renewables segment may deliver profit CAGR of over 20%, supported by its project pipeline which is set to increase attributable installed capacity by around 50% over next 2-3 years, the analyst says. Its gas-related services segment's earnings could increase, partly thanks to Singapore's healthy power market, the analyst says. Its integrated urban solutions segment's profit may alsoo rise, driven by potentially rapid growth in demand for industrial parks in Asean. DBS raises the stock's target price to S$7.38 from S$7.35 and maintains a buy rating. (ronnie.harui@wsj.com)

0612 GMT - Samsung Electro-Mechanics is set to benefit this year from demand for its high-end chip package substrates for AI devices, Heungkuk Securities analyst Heechul Park writes in a note. Demand for the company's high-performance flip-chip ball grid array substrates should rise as the supply of cost-efficient AI servers increases, Park says. Its FC-BGA substrates for AI accelerators will start generating revenue from 2025, he adds. He expects operating profit at the company to jump 27% in 2025, following 14% growth in 2024. Heungkuk raises its target price for the stock by 12% to KRW190,000 and keeps a buy rating. Shares are 0.5% lower at KRW143,200. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

February 21, 2025 06:26 ET (11:26 GMT)

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