The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0752 GMT - Oil prices hold onto Tuesday's gains after the U.S. and Iran exchanged strikes overnight, clouding prospects for a near-term deal to reopen the Strait of Hormuz. "These latest developments have underscored the lack of a realistic path towards normalizing maritime traffic through the Strait," says Ricardo Evangelista from brokerage ActivTrades. "The absence of a credible timeline is increasing investor anxiety." In early European trading, Brent crude is up 0.3% to $94.91 a barrel, while WTI futures are flat at $90.19 a barrel. Escalating tensions are also keeping refined-product markets, especially diesel, extremely tight. Disruptions to Middle Eastern and Russian exports are pushing diesel refining margins to record levels, with strong seasonal demand and limited spare refining capacity likely to keep prices elevated and volatile, according to analysts. (giulia.petroni@wsj.com)

0728 GMT - European natural-gas prices surged to their highest level since the end of 2022 as escalating hostilities between the U.S. and Iran fuel worries about prolonged disruptions to energy flows. Dutch front-month futures--Europe's benchmark--rise 2.3% to 73.85 euros a megawatt-hour in early European trading, and are up 25% on the month. Increasing tensions in the Persian Gulf are clouding prospects for a recovery in regional LNG exports, adding to concerns over Europe's gas supply as storage levels trail seasonal norms. Europe is currently a more profitable destination for LNG cargoes than Asia once shipping costs are taken into account, according to analysts at ING. But as the winter approaches, "competition between the two regions is likely to pick up, particularly if Qatari LNG remains largely absent from the market through year-end." (giulia.petroni@wsj.com)

0147 GMT - Elevated oil prices, with a 1H 2027 forecast of $80/bbl, should support Petronas' earnings and potentially lift domestic offshore capital expenditure, CIMB Securities analyst Muhammad Afif Bin Zulkaplly says in a note. Sustained prices could improve upstream project economics, encourage higher development spending, while greater cash-flow visibility may prompt operators to resume deferred brownfield and asset-integrity work, he says. Maintenance activity could therefore strengthen as oil prices stabilize, he adds. CIMB pegs Dayang Enterprise and MISC as top picks for their exposure to domestic capital expenditure and large-cap exposure, respectively. It keeps an overweight rating on Malaysia's oil and gas sector. (yingxian.wong@wsj.com)

0002 GMT - Coal port owner Dalrymple Bay Infrastructure is upgraded by Morgans to accumulate from hold, after its stock fell around 15% from the June high. Analyst Nathan Lead expects DBI to pay out a dividend of 28.6 Australian cents per share in FY27, in quarterly installments. Morgans also notes that DBI's Ebitda growth is underpinned by CPI-linked base charges and incremental earnings on commissioned NECAP projects--categorized as non-expansionary capital expenditure. "DBI may appeal to investors seeking dependable and growing yield and defensive elements for their portfolio," Morgans says. DBI ended Tuesday at A$5.13, below Morgans' A$5.47/share price target. (david.winning@wsj.com; @dwinningWSJ)

1132 GMT - European stocks extend losses through the European morning after eurozone inflation rose for a third-straight month in August, bolstering investor expectations of an ECB rate hike next week. The Europe-wide Stoxx 600 trades down 0.7% after opening flat. Losses are most sharp among energy-intensive industries, as Brent crude oil and benchmark gas contracts each rise by around 2%. A basket of European auto stocks falls 2.1%, while an aerospace and defense gauge is down 2.5%. London's FTSE 100 trades 0.8% lower as metals miners slide, while the CAC 40 trades down 0.4% after initially gaining Tuesday. The industrial-heavy DAX falls 1.1%, dragged by a 3.2% decline for Rheinmetall. ASML is flat after opening higher, taking steam out of the Dutch AEX, which falls 0.4%.