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

0739 GMT - HD Korea Shipbuilding & Offshore Engineering is set to benefit from strong growth at its subsidiaries, says Lee Jae-hyuk at LS Securities. The analyst expects the share of higher-end LNG and LPG carriers in the total shipbuilding lineup to expand through 2029 at the South Korean holding company's unlisted local subsidiary HD Hyundai Samho, which posted an industry-leading operating profit margin of 22.5% in 2Q. Lee is also positive about brisk contract wins by the holding company's affiliated overseas shipyards in the Philippines and Vietnam to build tankers. LS maintains a buy rating and 440,000-won target price on the stock. Shares closed 1.4% lower at 346,500 won. (kwanwoo.jun@wsj.com)

0732 GMT - Goldman nudges oil-price forecasts higher on the assumption that Mideast shipping disruptions will continue into 2027. But the revision is modest as OECD commercial oil inventories--a key predictor of crude prices--have barely drawn down since the war began and Mideast supply adaptation will likely continue. GS estimates that the global oil market deficit has narrowed from about 7 million barrels a day in March to 1 million in 3Q as Gulf output partially recovered. It assumes new pipeline capacity will come online in late 2027, and that the UAE and Saudi Arabia will eventually deploy spare capacity. Gulf liquids output has already improved and could return to pre-war levels by 2H 2027. (fabiana.negrinochoa@wsj.com)

0722 GMT - BP stock could become 30% more valuable relative to its performance if its current oil and gas exploration efforts are successful, Citi analysts write. The giant Brazilian offshore discovery Bumerangue is its hottest prospect, and combined with efforts in the U.S., Venezuela and Iraq, the British energy company's oil supply lifespan could grow to 14 years from the seven years reported at the end of 2025, they write. BP's reserve life outside its U.S. BPX business has fallen behind peers after it invested heavily in a pivot toward renewable forms of energy that dented its valuation, they say. BP's shares rise 0.8% to 550 pence. (adam.whittaker@wsj.com)

0658 GMT - Oil prices extend gains, with Brent crude now above $98 a barrel as escalating attacks in the Middle East fuel fears over prolonged supply disruptions. In early European trading, the global oil benchmark rises 1.5% to $98.45 a barrel, while WTI futures climb 2.7% to $93.93 a barrel. "Markets are increasingly pricing a prolonged Mideast conflict," analysts at Goldman Sachs say. "The options-implied probability of Brent above $100 in March 2027 has risen from around 6% a month ago to about 25%." The U.S. bank raised its oil-price forecasts by $5 a barrel, saying it now sees Brent at $85 a barrel and WTI at $80 a barrel in December, assuming shipping disruptions continue into 2027.