Constellation Energy Agrees to Buy Calpine for -2-

0855 GMT - Oil prices rise in early trade and are on track for modest weekly gains, as colder weather in parts of the U.S. and Europe boosts expectations of stronger heating fuel demand. Brent crude and WTI are both up 1.2% to $77.81 and $74.78 a barrel, respectively. Prices are also supported by uncertainties over the impact of future U.S. policy on energy markets, from potential fresh tariffs to stricter sanctions. "Asian buyers have already been looking for alternative grades from the Middle East, with broader sanctions against Russia and Iran making this oil flow more difficult," ING analysts say in a note to clients. Earlier this week, Citi raised its first-quarter estimates for Brent to $71 a barrel and for WTI to $67 a barrel, citing colder temperatures and potential disruptions to Iranian and Russian oil exports. ([e-mail])

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Gold Bulls Growing Stronger, But Bearish Bias Lingers, Chart Shows -- Market Talk

0714 GMT - Gold bulls are growing stronger after Comex gold futures closed above the 50-day simple moving average line on Thursday, RHB Retail Research's Joseph Chai says in a research report. Also, the relative strength index indicator remains above the 50% threshold, signaling gold price's positive momentum is re-accelerating, the analyst says. However, the technical setup is still bearish, given resistance at the $2,700/oz level is holding firm, Chai says. Immediate support is pegged at $2,600/oz, the analyst adds. Spot gold is 0.3% higher at $2,676.44/oz. ([e-mail])

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Iron Ore Rises in Likely Technical Recovery -- Market Talk

0245 GMT - Iron-ore prices are higher in early Asian trade in a likely technical recovery after losses in recent sessions. However, downside risks to demand remain given the potential for across-the-board U.S. tariffs, Goldman Sachs analysts say in a research note. While the analysts had already forecasted a decline in Chinese steel demand amid the property sector downturn, slower global GDP growth under a universal tariff scenario would mean lower iron-ore demand outside China as well. Rising iron-ore port stocks and the continuous depreciation of the yuan could further weigh on the ferrous metal's prices, they add. The most-traded iron-ore contract on the Dalian Commodity Exchange is up 0.7% at CNY755.0 a ton. ([e-mail])#

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Copper Rises; Could Be Weighed by Trump 2.0 Tariffs in Longer-Term -- Market Talk

0126 GMT - Copper rises in early Asian trade. The risk of further supply disruptions from aging copper mines remains a key concern in the longer run, UOB's Global Economics & Markets Research Private Bank team writes in a report. However, this supply risk has been overtaken by more immediate concerns about the risk of a global trade contraction and manufacturing slowdown due to potential Trump 2.0 tariffs later this year, UOB says. Depending on the pacing and intensity of the tariffs, China and other countries are likely to suffer another round of trade and export contractions this year and further into 2026, UOB adds. This could weigh on LME copper prices, UOB says. The three-month LME copper contract is 0.4% higher at $9,111.00/ton.([e-mail])

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(END) Dow Jones Newswires

01-10-25 1108ET