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

0911 ET - Oil futures are sharply higher on concerns the U.S. could be preparing for renewed strikes on Iran while Hurricane Isaias heads for the U.S. Gulf coast, shutting in production. "Houthi strikes against Saudi Arabia, speculation over a resumption of U.S. military strikes against Iran, and President Trump's stated preference against a deal combine to paint a volatile geopolitical backdrop," says Nikos Tzabouras of Tradu. But the picture isn't "uniformly bullish," he adds, noting gradual increases in supply and the G7 commitment to release additional reserves. WTI is up 4.7% at $92.46 a barrel and Brent gains 4.5% to $104.76 a barrel. (anthony.harrup@wsj.com)

0605 ET - Palm oil futures closed higher, rebounding thanks to firmer crude oil, gains in Dalian vegetable oils and expectations for stronger demand from India, says David Ng, trader at Kuala Lumpur-based Iceberg X. Ng expects crude palm oil futures to find support at 4,500 ringgit a ton and face resistance at 4,700 ringgit a ton. The Bursa Malaysia Derivatives contract for December delivery rose 139 ringgit to 4,663 ringgit a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

0351 ET - Gold prices tick higher as traders assess the possibility of another Federal Reserve interest-rate hike this year. Minutes from the September FOMC meeting showed most policymakers expected another hike by the end of the year, but didn't make an urgent case for such a move at the next meeting in October. In early trading, New York gold futures are up 0.1% to $4,143.40 a troy ounce. "The price action highlights an ongoing battle between macro and technically focused traders selling gold in response to higher funding costs and dollar strength, and investors seeking protection against the potential fiscal fallout from rising debt and borrowing costs," analysts at Saxo Bank say. (giulia.petroni@wsj.com)

2259 ET - Palm oil rises on bargain hunting. The strong ongoing El Nino could tighten the global palm oil balance in 2027, although elevated Malaysian inventories may weigh on CPO prices in the near term, CIMB Securities analyst Ivy Ng Lee Fang says in a note. Indonesia's B50 biodiesel mandate could boost palm oil demand, supporting CPO prices, she adds. The Bursa Malaysia Derivatives contract for December delivery is up 86 ringgit at 4,610 ringgit a ton.(yingxian.wong@wsj.com)

2219 ET - Copper gains in Asian trading. Reported strike action in Chile is threatening to disrupt supplies of the base metal, ANZ Research says in a note. Output from the Centinela mine will likely be hit within two weeks if the workers' strike continues, ANZ analysts say. "The renewed supply risks add to a market already fretting over shortages triggered by concerns over U.S. stockpiling in anticipation of a levy on imports," they write. The three-month copper futures contract on the London Metal Exchange rises 1.1% to $14,633.50 a metric ton, ICE data show. (megan.cheah@wsj.com)

2027 ET - Gold slips in early Asian trade. Higher bond yields and a stronger dollar are likely weighing on investor demand for the precious metal, say ANZ Research analysts in a note. A higher interest-rate environment typically diminishes the allure of the non-interest-yielding yellow metal. Still, any losses are likely to be partially offset by strong central-bank buying, the analysts add, noting that the People's Bank of China--among the world's biggest gold buyers--expanded its reserves in September. Spot gold is down 0.2% at $4,106.75 an ounce. (megan.cheah@wsj.com)

1743 ET - Macmahon Holdings's latest M&A foray represents the beginning of the mining services company's third pillar, according to Jefferies. Macmahon is acquiring Aspect Engineering for an enterprise value of up to A$90 million. Analyst John Campbell says the deal extends Macmahon's service offering across the resources value chain. In the process, it will help Macmachon with customer retention and improve its profit margins, Jefferies adds. "Ultimately, this acquisition is all about revenue synergies, not costs," Jefferies says. It views an enterprise value-to-Ebita multiple of 5x as highly appealing. Jefferies's price target rises 6.5% to A$1.15/share and it retains a hold call on Macmahon's stock. Macmahon ended Wednesday at A$1.115. (david.winning@wsj.com; @dwinningWSJ)

1628 ET - Oil futures give up early gains and settle lower as the market remains optimistic about crude flows out of the Middle East, although continuing conflict in the region limits pullbacks. WTI fell 1.3% to $88.28 a barrel despite an unexpected 3.2 million barrel weekly inventory draw reported by the EIA and production being shut in as Tropical Storm Isaias is seen reaching the U.S. Gulf coast as a hurricane on Friday. The U.S. Marine Minerals Administration said 511,619 barrels a day, or 25% of current Gulf production, had been shut in as of midday Wednesday. Brent crude settles down 0.4% at $100.20 a barrel. (anthony.harrup@wsj.com)

1533 ET - U.S. natural gas futures settle higher for a fourth straight session as cooler weather forecasts favor early-season heating demand, which could limit storage builds for the remainder of the injection season. The EIA on Thursday is expected to report a 79 Bcf inventory build for last week, according to a WSJ survey of analysts. That would reduce the storage surplus over the five-year average for an eighth consecutive week. "After cooler trends the past few days, it's likely there won't be a [weekly] build over 100 Bcf this shoulder season," NatGasWeather.com says in a note. The market is also watching Tropical Storm Isaias that's expected to reach the U.S. Gulf coast Friday as a hurricane. The storm could affect offshore production and LNG operations, but "impacts from cooler temperatures and rain won't be as notable as they would be in July through mid-September when a tropical system would bring relief from heat," NatGasWeather.com adds. Nymex natural gas settles up 2.9% at $3.2030/mmBtu. (anthony.harrup@wsj.com)

1521 ET - Live cattle futures on the CME inched lower, falling 0.2% to $2.237 a pound. The slight decrease came as traders found the market directionless. "Cattle markets are pulling back from yesterday's price surge as traders await direction from the cash fat cattle market," says Brian Grete of Commstock Investments. A stronger U.S. dollar put pressure on commodities as a whole throughout the day, including agriculture and livestock futures. Lean hog futures settled 1.9% lower at 69.075 cents a pound. (kirk.maltais@wsj.com)

1358 ET - Gold futures post their third decline in four sessions as the U.S. dollar gains and buoyant U.S. yields keep a lid on demand for the metal with the market looking to the Fed minutes for interest-rate guidance. Earlier gains in oil prices had put pressure on precious metals, given the inflationary implications of higher energy costs. Front-month gold settles down 1.1% in New York at $4,113.80 a troy ounce and silver falls 2.1% to $59.899 a troy ounce. (anthony.harrup@wsj.com)

1316 ET - U.S. benchmark crude slips after the EIA reported a 3.2 million barrel withdrawal in commercial crude oil stocks for last week, despite expectations for a third consecutive weekly build. Product inventories were mixed with gasoline stocks up by 382,000 barrels and distillate stocks down by 42,000 barrels. "Oil stockpiles remain tight but the crunch isn't clearly getting worse," says David Russell of TradeStation. The inventory drop was the result of an adjustment "so it may overstate the magnitude of the draw," he adds. WTI is off 0.7% at $88.79 a barrel and Brent is up 0.2% at $100.75 a barrel.