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.

0725 GMT - European energy stocks open lower Friday morning as oil prices continue to slide. The pullback in prices largely reflects a perception that geopolitical risks are moderating, MUFG's Soojin Kim writes. Diplomatic efforts are stepping up while China and other partners are reported to have urged Iran to restrain Houthi attacks near Bab el-Mandeb Strait, Kim adds. This pushes Brent crude down 1.9% to $102.87 a barrel while WTI falls 1.7% to $100.15 a barrel. In London, Shell and BP both fall around 1%. Spain's Repsol drops 1.5% and Italy's Eni is 1.4% lower. Norway's Equinor falls 0.5%.(adam.whittaker@wsj.com)

0713 GMT - Oil prices extend losses from the previous session, with Brent crude now at around $102 a barrel amid efforts to restore Saudi export capacity. "Supply concerns have eased as Saudi Arabia works to restore its damaged East-West pipeline," says Soojin Kim, analyst at MUFG. "The recent decline in spot oil prices largely reflects a perception of moderating geopolitical risks, but continued threats to both Hormuz and Red Sea routes should keep Brent above pre-war levels and volatility elevated." In early European trading, Brent falls 2.2% to $102.54 a barrel and is on track for a weekly loss of nearly 2%, while WTI futures are down 1.9% to $99.97 a barrel. Attention now shifts to the United Nations General Assembly in New York next week, as the U.S. has reportedly agreed to let Iran's leaders participate. (giulia.petroni@wsj.com)

0519 GMT - Korea Electric Power is expected to face earnings pressure from elevated fuel-purchase costs through 2H,Hyundai Motor Securities' Donghyun Shin says. The analyst expects the South Korean state utility operator's profit to decline sharply in 2H, with higher crude oil and liquefied natural gas prices weighing on its bottom line. Shin expects operating profit to fall 71% from a year earlier in 3Q and 76% in 4Q and net profit to slump 74% in 3Q and 82% in 4Q. Higher utilization of the company's nuclear reactors, some of which are currently undergoing maintenance, would be needed to improve earnings, he adds. (kwanwoo.jun@wsj.com)

0434 GMT - Top concerns of Emerald Resources' new bull, UBS, are the company's capital expenditure requirements and build time frames as it develops two projects concurrently. The company is "going from 1 to 3 mines in a hurry," UBS says in a note. However, publicly available studies on its projects "are non-existent, leaving few anchors on which to pin modeling assumptions." UBS worries management could be stretched by building and ramping up across two countries--Cambodia and Australia--at the same time, and that consensus expectations are too high. "Despite our more conservative build assumptions, the self-funded growth outlook still has the stock screening" with attractive upside, it says. It initiates coverage with a buy rating and A$8.75/share target. The stock is up 3.1% at A$7.02. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0219 GMT - Grid capacity constraints across Asia are tightening as AI and data center-driven power demand continues to grow, BMI says in a note. Regulatory tightening is evident in Thailand, Malaysia and Australia, and could continue as governments seek to protect grid stability, it says. Electricity demand is forecast to grow an average 2.9% annually in Thailand, 3.3% in Malaysia and 5.6% in Vietnam over the next decade, driven mainly by data centers and AI workloads. Supply constraints could peak in Malaysia and Thailand this year before easing as new generation capacity comes online, but pressure could persist into 2027. A renewed push for thermal power is likely, particularly in emerging markets, as policymakers turn to reliable generation to meet rising demand amid tightening grid conditions, BMI says. (yingxian.wong@wsj.com)

0036 GMT - Oil is lower in early Asian trade, as supply fears fueled by the outage of Saudi Arabia's East-West pipeline ease. Saudi Arabia expects to return about half of the capacity of its damaged East-West pipeline within days, say ANZ Research analysts in a note. The decline in oil prices also reflects some profit-taking after two weeks of gains, they add. Front-month WTI and Brent crude-oil futures are each 1.0% lower at $100.87 a barrel and $103.74 a barrel, respectively.(amanda.lee@wsj.com)

2045 GMT - Crude futures lose ground for a second consecutive session as the supply fears fueled by the outage of Saudi Arabia's East-West pipeline ease, and oil continues to make it through the Strait of Hormuz via ship-to-ship loadings and dark transits. While any movement toward renewed negotiations between the U.S. and Iran or stepped up tanker flow through the strait could prompt some major oil price declines, "our long-term outlook still favors much elevated pricing for at least another year even allowing for demand destruction," Ritterbusch & Associates says in a note. WTI settles down 0.5% at $101.91 a barrel and Brent falls 1% to $104.82. (anthony.harrup@wsj.com)

1401 GMT - Oil continues its retreat from this week's earlier highs with Saudi Arabia increasing shipments via Oman and expectations that it could soon resume flows through the East-West pipeline. Diplomatic signals are providing some relief to fears of broader escalation, although the physical market remains tight, limiting downside, Christopher Tahir of Exness says in a note. "Tanker traffic through the Strait of Hormuz continues to fall, while tensions between Saudi Arabia and the Houthis leave Red Sea shipping and regional energy infrastructure exposed to renewed disruption," he says. WTI is down 1.9% at $100.46 a barrel and Brent falls 2.8% to $102.86 a barrel. (anthony.harrup@wsj.com)

0856 GMT - The market underappreciates the cash flow potential of renewable power generator Drax, J.P. Morgan analysts Pavan Mahbubani and Mukund Verma write. Drax hiked its outlook for 2026 thanks to its 561 million pound acquisition of Bluefield Solar Income Fund which completed on July 31. Drax anticipates its new solar and wind assets to cut costs and improve pricing. The move could offer improved earnings from a more diversified energy portfolio, the analysts say. "We increase our EPS by 3% off the back of this, which we see as being driven by strong operational performance of power generation against a high, volatile power price backdrop," the pair write. JPM has an overweight rating on the stock and 960 pence price target. Shares are 0.85% higher at 826.50 pence. (joseph.wilkins@wsj.com)

0842 GMT - Middle East countries investing in oil pipelines to diversify export routes remains useful but not risk-free, J.P. Morgan analysts write after Saudi Arabia's East-West pipeline was hit. The attack doesn't invalidate the regional strategy of building alternative export routes but does highlight how physical diversification alone can't eliminate geopolitical risk, they say. "Protecting hundreds of kilometers of energy infrastructure remains challenging, suggesting that durable regional de-escalation and security arrangements ultimately provide a more effective solution than additional infrastructure alone," they say.