Published • loading... • Updated
Wall Street Retreats as Oil Prices Continue to Rise, ASX Set to Slip
Higher oil prices and renewed Middle East tensions pushed Wall Street lower, while traders lifted the odds of another Federal Reserve rate hike.
- 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.
Insights by Ground AI
Podcasts & Opinions
90 Articles
90 Articles
Crude prices fall from six-month highs; WTI stands at $101 per barrel, Brent costs $115
Oil prices experienced a decline of over 1% after hitting six-month peaks, primarily due to geopolitical unrest in Saudi Arabia. Currently, Brent crude fluctuates around $115 per barrel, and WTI at $101.5 per barrel. The threat to energy exports and infrastructure from Houthi attacks raises alarm, while the Federal Reserve meeting looms, potentially addressing inflation amid climbing energy prices.
·India
Read Full Article
Global oil prices fell on Monday after surging to near their highest levels in nearly six months late last week, despite continued attacks on Saudi Arabia by the Houthi group, raising concerns about global energy supply.
Coverage Details
Total News Sources90
Leaning Left9Leaning Right17Center13Last UpdatedBias Distribution44% Right
Bias Distribution
- 44% of the sources lean Right
44% Right
L 23%
C 33%
R 44%
Factuality
To view factuality data please Upgrade to Premium
