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

1654 ET - The decision to push ahead with phase two of the Canada LNG operation in Western Canada is a sign the country is again building big, Prime Minister Mark Carney says. He tells an audience that the more than C$30 billion investment to double LNG production will make LNG Canada the second-largest facility of its kind in the world. It also will create some 4,000 jobs at the peak of construction, he adds. will create over thousands of new jobs. And the Shell-led venture's final investment decision, TC Energy will move ahead with a multi-billion-dollar second phase of the Coastal GaslLink pipeline, which Carney says will create more than 2,000 jobs. Shell CEO Wael Sawan says the investment go-ahead reflects confidence in Canada as a place to invest and do business for the long-term. (robb.stewart@wsj.com; @RobbMStewart)

1536 ET - Natural gas futures are slowly approaching the $3 per million British thermal units threshold - falling by 3.1% to $3.011 per mmBtu in the first day of the November contract being the front-month contract. It's also the third day in a row that natural gas futures have finished lower. Mild weather continues to be the primary factor keeping pressure on natural gas futures, with cooler-than-normal temperatures expected in the eastern half of the country through the next two weeks. (kirk.maltais@wsj.com)

1433 ET - TD Cowen weighs in on Monday's investor presentation by WSP Global. Analyst Michael Tupholme says the global engineering and services firm reiterated the significant opportunity across power and energy "supported by broad structural demand drivers beyond the AI & data center build-out." Importantly, he notes management stressed that "growth is not dependent on any single demand driver." Tupholme says WSP reaffirmed it's on track to achieve its overall 2027 financial targets including a 40% surge in net revenue and a 50% rise in adjusted Ebitda, all versus 2024 levels. (adriano.marchese@wsj.com)

1424 ET - Doubling Canada's electricity supply and introducing more clean energy could offer significant benefits for the economy, new economic modeling suggests. A report from New Economy Canada and the Canadian Chamber of Commerce compares an electrified-economy with a business-as-usual future based on current policies and measures. It finds that leaning into electrification could add a cumulative C$3 trillion to the economy by 2050 and support 1.6 million additional jobs by that year, while delivering C$5 in economic benefits for every C$1 invested in the power sector versus business as usual. (robb.stewart@wsj.com; @RobbMStewart)

1215 ET - Demand for Carnival's cruises is strong and broad-based, CEO Josh Weinstein says on a call with analysts. After experiencing a disruption in bookings earlier this year, trends rebounded meaningfully over the past three months, he says: "With 2026 largely on the books, our attention is turning to 2027 and beyond." For 2027, Carnival is already halfway booked, with both occupancy and pricing at record levels, according to Weinstein. "2028 is also off to an excellent start at higher occupancy and even higher prices year-over-year, and our booking curve is further out than it has ever been at this point in the year," he adds. (connor.hart@wsj.com)

1213 ET - Carnival CEO Josh Weinstein says strong demand and operational improvements have fully offset higher fuel costs. "Yes, fuel can be a volatile input cost, with a track record of prices going up and down," Weinstein says on a call with analysts. "But amidst that noise, let's not lose sight of our underlying operational improvement." The cruise operator is generating more demand, with strong booking trends and pricing power. At the same time, the company has netted more than $150 million in operational improvements since its last quarterly readout in June, Weinstein says. Taken together, Carnival has fully offset the impact of higher fuel prices that are currently expected, according to Weinstein. Carnival jumps 12%. (connor.hart@wsj.com)

1134 ET - Saudi Arabia leads major Gulf stocks lower Tuesday, with the Tadawul All Share Index falling 1.2%. Qatar's QE Index loses 1.1%, Abu Dhabi's benchmark index declines 0.3% and the Dubai Financial Market General Index slips 0.2%. Risks from the Middle East conflict remain elevated despite recovering regional oil flows. S&P Global Market Intelligence says its base case no longer assumes a clear end to the war, with Gulf exports likely to fluctuate as security conditions affect ships' willingness to transit the Strait of Hormuz. It expects only gradual improvement through 2027, with energy, freight, insurance and logistics costs remaining elevated. (farhan.rafid@wsj.com)

1125 ET - Volkswagen's latest partnership with Chinese battery maker Gotion High-Tech shows how Europe's auto business can selectively integrate products and tech from China, says Philipp Seidel, principal at Arthur D. Little. The German auto group said this week it was teaming up with Gotion--in which it is also an investor--on joint ventures to produce lithium-battery cells at sites in Spain and Slovakia, as well as a cathode-material facility in Morocco. Chinese players have a competitive advantage in lithium batteries, Seidel notes. "For European industry, selectively integrating this know-how into its own value chain can therefore be more effective than trying to recreate every capability independently from scratch," he says. "The strategic question is not whether Europe should use Chinese technology, but whether that technology transfer helps Europe build its own capabilities--or simply creates a new dependency." (joshua.kirby@wsj.com; @joshualeokirby)

1124 ET - Volkswagen's latest partnership with Chinese battery maker Gotion High-Tech shows how Europe's auto business can selectively integrate products and tech from China, says Philipp Seidel, principal at Arthur D. Little. The German auto group said this week it was teaming up with Gotion--in which it is also an investor--on joint ventures to produce lithium-battery cells at sites in Spain and Slovakia, as well as a cathode-material facility in Morocco. Chinese players have a competitive advantage in lithium batteries, Seidel notes. "For European industry, selectively integrating this know-how into its own value chain can therefore be more effective than trying to recreate every capability independently from scratch," he says. "The strategic question is not whether Europe should use Chinese technology, but whether that technology transfer helps Europe build its own capabilities--or simply creates a new dependency." (joshua.kirby@wsj.com; @joshualeokirby)

1045 ET - The Conference Board reports consumer confidence fell sharply in September as gasoline prices surged and consumers grew more pessimistic about business and labor-market conditions. As economists monitor Wednesday's PCE inflation report--the Fed's preferred inflation measure--the Conference Board survey shows that the share of consumers anticipating higher interest rates over the next 12 months jumped by 5.2 percentage points to 68.4%.(jessica.coacci@wsj.com)

1019 ET - Sterling shows little reaction after U.K. Prime Minister Andy Burnham announced plans to reform pensions in a speech Tuesday, as widely expected. From 2030 the government will adjust the triple lock on pensions, which ensures state pensions rise in line with average earnings, inflation or 2.5%, whichever is highest. Instead pensions will rise every year in line with inflation, or 2.5%. Burnham scrapped the earnings element, saying state pensions would hold their value "relative to earnings over time." He also pledged to build a national care service, create a public body to invest in the electricity grid and strengthen control of water companies. Sterling falls 0.2% to $1.3222 and is flat at 0.8573 per euro, both little changed from levels before the speech. (renae.dyer@wsj.com)

1016 ET - Flat Canadian GDP in July and an advance estimate for modest growth in August support the view that the economy shifted into a lower gear in 3Q but continued to grow, Oxford Economics' Michael Davenport says. He expects that new U.S.-Canada tariffs, tighter financial conditions, and a shrinking population should further weaken growth for Canada in late 2026 and early 2027. Excess slack in the economy and a soft growth outlook lessen upside risks to inflation but Davenport notes that if oil prices remain elevated in the near term as expected, it will likely lead the Bank of Canada to lift interest rates in October and December as insurance against a more persistent pickup in underlying inflation.