Nippon Steel Shares Tumble After Announcing Near -2-

0825 GMT - Oil prices edge higher in early trading as markets remain highly sensitive to developments in the Middle East, continuing to factor in a sizable risk premium ahead of U.S.-Iran talks. Brent crude rises 0.3% to $70.79 a barrel, while WTI is up 0.3% to $65.59 a barrel, after both benchmarks settled lower in the previous session. "Oil prices weakened yesterday amid hopes that the U.S. and Iran will find a diplomatic solution to their standoff," ING analysts say. "However, the build-up of U.S. military assets in the Middle East means the risk of action remains very real." In his State of the Union address, President Trump said he would prefer a diplomatic resolution to the crisis with Iran, but made clear he would never allow Tehran to obtain a nuclear weapon.([e-mail])

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Comex Gold Futures' Overall Technical Setup Remains Bullish, Chart Shows -- Market Talk

0733 GMT - Comex gold futures' overall technical setup remains bullish, RHB Retail Research's Joseph Chai says in a research report. The futures are staying above both the 20- and 50-day simple moving averages on the daily chart, the analyst notes. The upward-trending 20-day simple moving average also offers additional support. The commodity should resume upside movement toward the $5,500/oz level, following any consolidation, Chai says. In the event that selling pressure increases, the precious metal will likely find support near $5,000/oz, the analyst adds. Spot gold is 0.9% higher at $5,187.16/oz. ([e-mail])

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Palm Oil Rises on Stronger Soybean Oil -- Market Talk

0246 GMT - Palm oil prices are higher in early Asian trading, supported by stronger soybean oil prices overnight on the Chicago Board of Trade, AmInvestment Bank says in a note. However, technical analysis suggests crude palm oil futures are in a bearish trend, it says, adding that selling is recommended on rebounds in prices. AmInvestment Bank expects crude palm oil futures to find support at 4,008 ringgit a ton and face resistance at 4,116 ringgit a ton. The Bursa Malaysia Derivatives contract for May delivery is higher by 18 ringgit at MYR4,071 a ton.([e-mail])

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Iron Ore Rises Amid Stable Steel Production -- Market Talk

0235 GMT - Iron ore prices are higher in early Asian trade amid stable steel production during the just-ended Lunar New Year holiday. The most-traded contract on the Dalian Commodity Exchange is up 0.8% at CNY748.0 a ton. Although iron ore consumption has rebounded slightly, steel mills' profitability remains low, Baocheng Futures says in a note. Meanwhile, concerns about oversupply are mounting as China's iron ore stockpiles held at ports have risen to their highest level since February 2022, ANZ Research says. "The steel industry may also be concerned that the U.S. Supreme Court's ruling on tariffs may trigger further protectionist measures," the ANZ analysts add.([e-mail])

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Market Too Bearish on Woodside Energy's Outlook in 2026 -- Market Talk

0019 GMT - Are market forecasts for Woodside Energy too conservative? Morgans analyst Adrian Prendergast thinks so. He points out that Woodside just declared a final dividend of US$0.59/share that is more than the US$0.55/share payout that the market expects for all of 2026. There are challenges ahead, including a turnaround of the Pluto LNG facility and output from the Sangomar oil-project starting to decline. "How Pluto performs post turnaround, and Sangomar behaves once it starts to decline, are both uncertainties that in our view are driving Woodside's conservative guidance of 172 million-186 million BOE," Morgans says. "But also sets up potential for a subsequent upgrade if Woodside gains confidence during 1H." ([e-mail]; @dwinningWSJ)

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(END) Dow Jones Newswires

02-25-26 0941ET