Wall Street Retreats as Oil Prices Continue to Rise, ASX Set to Slip
Oil’s jump to its highest level in more than four years stoked inflation worries and pushed investors toward safer assets, analysts said.
- ASX 200 Index futures point to a 0.5% decline on Monday, set to open at 8774 points following Friday's weak session on Wall Street.
- Global oil prices surged 3.1% to $US116.72 per barrel, reaching their highest level since April as traders assessed risks of a broadening conflict in the Middle East.
- Wall Street's S&P 500 fell 0.5% on Friday, though energy stocks gained 2.5%, reflecting investor anxiety over inflation and artificial intelligence infrastructure costs.
- Reserve Bank of Australia interest rate hike odds have risen to two-in-three, with officials scheduled to face the Senate Estimates Committee on Wednesday.
- Following the appointment of UK-based biotech executive Deborah Waterhouse as new chief executive, CSL shares fell 2.4% as the board announced chair Brian McNamee will step down.
337 Articles
337 Articles
Oil inches higher, stays near six-month highs on Saudi attacks
NEW YORK — Oil prices inched higher after falling more than $2 a barrel on Monday, as persistent attacks on key producer Saudi Arabia kept investors wary and prices near six-month highs, even as diplomatic efforts to resolve the conflict in the Middle East resumed. Brent crude futures rose 49 cents, or 0.4 percent, to $117.21 at 12:51 p.m. ET (1637 GMT), while U.S. West Texas Intermediate crude futures were down 35 cents, or 0.34 percent, at $10…
The price of Brent oil, of reference in Europe, fell by 1.67% to slightly below $115 per barrel, despite the fact that the Houthi forces have launched several military operations with ballistic missiles and drones against various Saudi Arabian targets, including the Rey Khalid International Airport in Riyadh and several other ... Continue reading "The prices of oil fall despite new attacks by the Houthis on oil fields"
Oil plunges over 6% as Iran diplomacy seemingly gathers pace
Brent crude fell more than 6% on Monday morning, retreating from its highest close since March, as regional mediators headed to Tehran and US President Donald Trump weighed a deal with Iran, while investors braced for a week packed with central bank decisions and earnings reports.
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