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

0903 ET - Treasury yields rise, hovering near multi-year highs, amid expectations the Fed may raise interest rates Wednesday. The conflict in the Middle East pushes oil prices up by nearly 5%, stoking inflation fears. The WSJ Dollar Index rises 0.5%, as the greenback strengthens 0.9% against the yen and 0.6% versus the euro. The 10-year yield is at 4.985% and could breach 5% for the first time since 2023, on an intraday basis. The benchmark hasn't closed above 5% since 2007. The two-year is at 4.641%, receding after reaching its highest level since July 2024. (paulo.trevisani@wsj.com; @ptrevisani)

0852 ET - Gold futures are lower as the dollar gains amid heightened expectations for a Fed interest-rate increase this week. "The possibility of more interest-rate hikes by major central banks, amid higher oil prices and geopolitical developments, could further support yields and keep gold under strain," Critical Metals CEO Tony Sage says in a note. The Fed meeting is the main event for gold, which could be pulled down by any hawkish signals at the press conference, he says, while "any soft messaging from the Fed may ease tightening bets and help gold recover." Gold for December delivery is down 2% in New York at $4,321.50 a troy ounce. Silver is off 2.7% at $63.40 a troy ounce. (anthony.harrup@wsj.com)

0821 ET - Oil futures are extending last week's gains as the outage of Saudi Arabia's East-West pipeline adds to supply disruptions from the Middle East and Houthis make territorial advances in Yemen. Analysts at Capital Economics say the pipeline outage adds upside to their year-end estimate of $100 a barrel for Brent. "However, we are minded to stick with our existing forecast for now, largely because we simply do not know how long-lasting the damage to affected pumping stations along the East-West pipeline is," they say. "There is a chance that this could prove short-lived." Brent is up 3.4% at $108.12 a barrel and WTI is up 3% at $103.07. (anthony.harrup@wsj.com)

0612 ET - Palm oil rose, with the Bursa Malaysia Derivatives contract for November delivery rising 39 ringgit to 4,853 ringgit a ton. Despite concerns over rising stockpiles and slowing export demand, higher crude oil prices and persistent worries about yields and future production related to El Nino weather conditions may have helped cushion the downside, Kenanga Futures said in a note. (kimberley.kao@wsj.com)

0349 ET - Gold futures trade 1.1% lower at $4,360 a troy ounce in morning trade in Europe as expectations the U.S. will hike interest rates solidify. Higher rates weigh on nonyielding assets like gold. The impact of a rate hike cycle on gold is likely limited compared to historical cycles, ANZ analysts write. This is because the rate hikes are to contain conflict induced inflation, they say. Should the Federal Reserve turn more hawkish due to sustained higher inflation, strong economic activity and AI-linked investments, gold will likely come under more pressure, they say.(adam.whittaker@wsj.com)

0334 ET - London's miners open lower Monday morning as oil prices rise and AI stocks tumble. Friday's U.S. consumer report also solidified expectations the Fed will increase interest rates, which could slow investment and cut demand for mined metals and minerals. Higher oil prices will eat into margins given miners are some of the world's largest consumers of diesel. Copper miner Antofagasta falls 2.4%. Glencore drops 2.01% while BHP's London-listed shares trade 1.7% lower. Rio Tinto's London shares are down 1.6%.(adam.whittaker@wsj.com)

0022 ET - An obligation to deliver gas to Australia's southern states is still missing from the government's domestic gas reservation exposure draft, says Commonwealth Bank of Australia's Vivek Dhar. That is "where the gas shortfalls are forecast," he says. The draft reaffirms CBA's view that Australia's Queensland state faces a substantial oversupply, but southern states may remain balanced to undersupplied, Dhar says. "Keeping the obligation broad to the east‑coast gas market alongside giving LNG [liquefied natural gas] exporters the power to cite infrastructure constraints to reduce their obligation means LNG exporters can substantially increase their supply in Queensland and still potentially meet their DSO," he says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2343 ET - NRW's announcement of roughly 313 million Australian dollars in contract awards adds to earnings visibility and confidence the contractor can meet FY27 guidance, says bull Euroz Hartleys. "The existing order book provides a high degree of visibility, while upside remains from stronger activity across electrical and HVAC [heating, ventilation and air conditioning] services, resources civil work, mining ramp-ups and further margin improvement," it says. The broker keeps a buy rating and A$9.06/share price target on the stock. Shares are up 0.1% at A$7.70. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2321 ET - Gold investors could be looking beyond the next Federal Reserve move, says UBS Global Economics and Strategy Research's Joni Teves in a note. The precious metals strategist expects the market to have largely absorbed rate tightening expectations and place greater weight on other reasons to buy gold, such as the asset's diversification appeal and intact official-sector buying. The peak gold demand season is also approaching in India, while investment activity in China appears supportive, she adds. Gold prices are likely to remain volatile but increasingly likely to rise toward the year-end, she says. She flags that a September Fed rate increase could still result in a "knee-jerk correction" without derailing the broader recovery. Spot gold declines 0.3% to $4,332.84 a troy ounce. (megan.cheah@wsj.com)

2259 ET - Iron ore falls in early Asian trading. Prices are dragged by weak demand due to poor profitability at steel mills, Tongguan Jinyuan Futures analysts say in a note. Traders are watching for the impact on iron ore's demand from steel mills' preholiday restocking, they add. The most actively traded January iron ore contract on the Dalian Commodity Exchange is 1.4% lower at 710.0 yuan a ton.(amanda.lee@wsj.com)

2241 ET - Palm oil rises in Asian trading amid bargain hunting, with the Bursa Malaysia Derivatives contract for November delivery up 37 ringgit at 4,851 ringgit a ton. However, the crude palm oil market could remain under pressure as rising Malaysian inventories and weaker export demand weigh on sentiment, AmInvestment Bank says in a note. Technical analysis suggests CPO futures remain bearish, with technical rebound facing resistance around 4,891 ringgit-4,920 ringgit a ton, it adds. AmInvestment Bank expects palm oil prices to face support at 4,740 ringgit a ton. (yingxian.wong@wsj.com)

2219 ET - Copper falls in early Asian trading. Prices are lower after recent reports suggested that the Trump administration has delayed a decision on import tariffs on refined copper, ANZ Research analysts say in a note. Traders have been stockpiling a large amount of copper in the U.S. in anticipation of potential tariffs. Still, rising concerns about inflation are making the White House hesitant on tariff plans, ANZ says. The three-month futures on the LME down 0.35% at $14,190.00 a metric ton.