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.

0757 GMT - European natural-gas prices climb back above 80 euros a megawatt-hour as concerns over continued attacks on shipping in the Gulf raised fresh questions about the security of LNG supplies. According to a Bloomberg report, Qatar had assembled a fleet of at least 12 empty LNG tankers in the Persian Gulf, suggesting it was preparing to resume or increase shipments. However, intensifying attacks on vessels in the region have heightened concerns over the safety of transits. In early trading, the benchmark Dutch TTF contract rose 3.2% to 80.59 euros a megawatt-hour. Meanwhile, European Union underground natural-gas storage facilities are currently 72% full, according to data from industry group Gas Infrastructure Europe, well below the seasonal average. (giulia.petroni@wsj.com)

0753 GMT - Hyundai Motor's 3Q earnings could come in below expectations, DB Financial Investment's Nam Ju-shin says. Prolonged labor unrest and production disruptions at the South Korean car maker likely weighed on its global sales in the July-September period, the analyst writes in a note. Lower plant-utilization rates, higher fixed costs and increased raw-material costs also likely pressured the company's profit margins, Nam says. He expects Hyundai Motor's operating profit to have fallen 6.4% from a year earlier to 2.376 trillion won in 3Q, below a market consensus estimate of 2.819 trillion won. The brokerage cuts its 2026 and 2027 earnings forecasts for the company by 8% and 14%, respectively, on sluggish vehicle sales and the won's appreciation. (kwanwoo.jun@wsj.com)

0744 GMT - Oil prices climb more than 3.5% as attacks on shipping in the Gulf intensified, while Tropical Storm Isaias is expected to reach the U.S. Gulf Coast late Friday as a hurricane. A tanker sailing off Qatar's northern coast was struck by multiple projectiles in the latest attack reported this week, according to a British maritime security agency. Meanwhile, media reports said President Donald Trump and his national security team had discussed the possibility of launching strikes against Iranian targets before next month's midterm elections. At the same time, some major producers in the Gulf of Mexico have started evacuating workers and halting production ahead of Isaias, adding to concerns about potential supply disruptions. In early European trading, Brent crude rises 3.9% to $104.09 a barrel, while WTI gains 3.7% to $91.60 a barrel. (giulia.petroni@wsj.com)

0659 GMT - Porsche could be one of the first automakers in the premium/luxury segment to show it can maintain its volume and earnings momentum going forward, J.P. Morgan analysts write. Following the company's investor day, the bank says it continues to see evidence of earnings stabilization, a business model in China that might represent a growth opportunity in the future, and solid free cash flow generation. J.P. Morgan says Porsche's strategic plan is framed around sharpening the sports-car identity and desirability, a more disciplined, execution-led operating model, and a 2035 time horizon that acknowledges tougher external assumptions. "Overall, the message reinforces Porsche's positioning between sporty premium and sporty luxury, with scope to migrate further up the price curve while maintaining a strong focus on quality and residual values."(dominic.chopping@wsj.com)

0601 GMT - Investors looking at Singapore's aviation sector should position for activity, not fuel sensitivity, DBS Group Research says. Analyst Jason Sum notes that global passenger traffic is stabilizing, citing improving bookings and scheduled capacity growth. Meanwhile, the cargo segment's outperformance will likely extend into 2027. "Aviation activity is holding up better than airline-sector earnings and, in several cases, better than valuations imply," Sum writes in a note. SATS leads DBS's industry pecking order because of its compelling risk-reward profile, followed by SIA Engineering, ST Engineering, China Aviation Oil and Singapore Airlines. DBS has a buy rating and target price of 5.00 Singapore dollars on the stock, which is last at S$3.70. (farah.elias@wsj.com)

0556 GMT - Porsche used its investor event to establish credible targets, Citi analysts write. The bank says that Porsche has confirmed all previous recovery targets, set high cash goals, and has released long-term "dream targets." It has done so using credible conservative assumptions, while the automaker also faces much fewer structural threats than the EU sector more generally. "This is how you build an investment dream." Citi rates Porsche stock at buy with a 56 euro target price. Shares closed at 42.67 euros. (dominic.chopping@wsj.com)

0540 GMT - Mercedes-Benz's third-quarter unit sales were in line with expectations, but headwinds keep Citi cautious. Mercedes's sales of 491,700 units were down 6% on year and 4% on quarter. Car sales were driven by strong growth in Europe and North America, offset by continued weakness in China. It was a record quarter for electric vehicles, with car battery-electric vehicle sales rising 61% on year to 68,400 units, with share of BEVs at 17%, and BEVs plus plug-in hybrids at 25%. "Given the 2H severe earnings challenges, investors are likely to remain cautious on Mercedes-Benz Group (and the overall sector), unless they have more visibility on cost actions." Citi rates Mercedes stock at neutral with a 42 euro target price. Shares closed at 39.83 euros. (dominic.chopping@wsj.com)

1344 GMT - UBS raises its December oil price forecast by $5 a barrel, citing continued declines in inventories and escalating attacks in the Strait of Hormuz, which have prompted markets to price in a higher geopolitical risk premium. The bank now expects Brent crude to reach $100 a barrel by year-end, while WTI is forecast at $96 a barrel. The outlook, however, remains highly uncertain, reflecting the unpredictable course of the conflict in the Middle East and the pace of recovery in Gulf production, UBS says. (giulia.petroni@wsj.com)

1321 GMT - LNG markets are likely to remain tight into next year, with restricted Strait of Hormuz transit expected to constrain Qatar's exports until at least the first quarter, ANZ analysts say. Asia is bearing most of the demand adjustment, with higher LNG prices encouraging switching to coal in power generation and fuel substitution in industry, particularly in India and China. Europe, meanwhile, is relying more heavily on storage drawdowns and reduced industrial consumption to balance the market amid higher prices. A colder winter, weaker wind generation or stronger Chinese buying could intensify competition for LNG cargoes. "While the LNG market can absorb the loss of Qatari supply, the adjustment will be achieved through demand destruction, lower inventories and sustained high prices rather than a material increase in available supply," the analysts say. (giulia.petroni@wsj.com)

1158 GMT - Porsche's new medium-term revenue targets will be driven chiefly by pricing and product mix analysts at J.P. Morgan says. The bank says it welcomes the cash conversion targets, which should continue to support shareholder remuneration. At an investor event, Porsche outlined its medium-term strategy framework, centered on reinforcing its sports-car brand DNA while improving price and mix discipline, lowering capital intensity, and supporting structurally higher profitability and cash generation. Management reiterated its value over volume approach, pairing portfolio and pricing actions with a cost-savings program and a leaner, more agile operating model, analysts Jose M Asumendi and Piyush Singla write. The bank rates Porsche at overweight with a 50 euro price target on the stock. Shares fall 0.2% to 42.45 euros. (dominic.chopping@wsj.com)

1045 GMT - The momentum created by Forvia's new management is underestimated by the market, Bank of America analyst Stephen Benhamou writes. The French automotive equipment supplier has better margins, fast de-leveraging and a stronger free cash flow that's more visible from 2027, he says. "Since Martin Fischer became CEO in March 2025, Forvia has built a stronger execution track record, restoring credibility and making its [about] 10% sector discount difficult to justify," Benhamou says. BofA double-upgrades its rating on the stock to buy from underperform and raises its target price to 14 euros from 10.50 euros. Shares are up 9.25% at 10.37 euros, but 24% lower over the year to date. (ian.walker@wsj.com)

1010 GMT - Elevated crude tanker rates are adding to already high fuel prices worldwide, ING's senior economist Rico Luman says. Tankers have repeatedly been targeted in key Middle East shipping lanes, with operators facing sharply higher insurance premiums. At the same time, demand for tanker capacity has surged as traders seek alternative routes and sources of supply. Transport costs for crude shipments from Ras Tanura in Saudi Arabia to Rotterdam, which stood at around $2 a barrel in 2025, surged above $35 a barrel in September, Luman says. Combined with strong refinery margins, these higher shipping costs could add more than $0.50 a liter to diesel prices at the pump. Although new tanker orders have increased, most vessels won't be delivered until 2028-29, leaving the market exposed to prolonged capacity constraints.