'There is a lot we don't know': oil prices likely to remain 'volatile', ASX to fall

  • 📰 abcnews
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 83%

Australia Headlines News

Australia Latest News,Australia Headlines

Global markets fall on surging oil prices, ASX to drop

Troops on the battlefield could soon face swarms of autonomous kamikaze drones loaded with explosives, according to a leading Australian military thinker.

Brent crude has since settled 13 per cent higher at $US68 a barrel, its biggest daily increase since 2009. "Thanks to the increase in Australia's LNG [liquefied natural gas] exports, the Australian dollar appears to be showing a little bit of resilience to the move higher in oil prices," Mr Catril said.

Energy stocks across global markets benefited from a massive increase to their share price, but nearly all other sectors finished in the red.The benchmark S&P 500 and tech-heavy Nasdaq indices both closed 0.3 per cent lower.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Energy firms feel heat as electricity prices fall and Coalition plans fresh crackdownHousehold energy bills are falling by at least $130 a year under pressure from tough new pricing laws on electricity retailers What. Absolute. Rubbish. Energy costs are falling as more wholesale energy is derived from renewable sources. Government regulation, stick waving & gesticulating has nothing to do with it. The market is driving the cost, not the government. simonahac research AEMO_Media
Source: smh - 🏆 6. / 80 Read more »

'Game changer': Crude oil surges over 10pc following Saudi attacksAn attack on a major oil processing facility in Saudi Arabia has led to a spike for crude oil prices. Scutty Reminds us of Matt Simmons' book published in 2005: Although that was a peak oil, not attack scenario. To the extent that Saudi oil production declined 2005-mid 2007, causing the US recession and the oil price shock in mid 2008, he was correct
Source: smh - 🏆 6. / 80 Read more »

Oil prices expected to jump more than 10pc following Saudi attackOil prices could rise by more than 10 per cent, driving petrol prices higher, following an attack that has knocked out about half of Saudi Arabia's crude processing. surely if the rest of opec increased their output the short fall would be addressed. Oh that would mean the price won't rise Any excuse to raise prices
Source: abcnews - 🏆 5. / 83 Read more »

Photos raise doubts about oil attacksDrones didn’t attack Saudi Arabia’s oil facilities. They were guided cruise missiles and initial examinations of their remains indicate — Iran made them. They could have also been planted, did anyone think of that ? Someone wants to start a war here, we need to be very careful about what we read and say. Remember the Weapons of Mass Destruction lies Look what happened there.
Source: newscomauHQ - 🏆 9. / 77 Read more »

Iran denies involvement in drone attacks on world's biggest oil facilityDrone strikes on key Saudi Arabian oil facilities have disrupted about half of the kingdom&x27;s oil capacity - five per cent of the daily global oil supply.
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Oil prices skyrocket after Saudi attackThe peak body representing Australian petrol stations has warned that it may be another week before the full impact of a drone attack on Saudi Arabian oilfields is known. Inflation coming
Source: newscomauHQ - 🏆 9. / 77 Read more »