Westpac sells $15.4B RAMS mortgage portfolio, strengthening its balance sheet. Global oil prices drop ~5.7% after Trump cancels planned Iran attack. ASX expected to fall 1% despite Wall Street gains, with reporting season kicking off.
US President Donald Trump threatened "major military punishment" for Iran and its Houthi allies after Houthi fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East conflict. The attacks, coupled with US airstrikes on Iran, sent global oil prices surging and raised fears of a wider economic downturn.
Beijing has eased refined fuel export restrictions due to high global oil prices and ample reserves, but introduced compliance requirements for refiners to maintain inventory levels, a cautious move influenced by the collapse of the interim US-Iran truce.
Economists believe Australia will avoid recession despite a projected contraction in GDP per capita, citing falling oil prices and a tax cut. While inflation and interest rates remain concerns, future growth is anticipated, boosted by datacenters and AI.
Global crude oil prices have fallen to their lowest levels since before the Iran conflict, with Brent around $72-73/barrel and US crude below $70. This eases inflation risks and reduces India's import bill, though retail fuel prices remain unchanged as retailers adjust based on average crude trends.
US President Donald Trump orders DOJ investigation into major energy companies, alleging they are 'gouging' customers by not sufficiently lowering petrol prices after global wholesale oil price decreases.
Oil prices fell Monday after US-Iran talks in Switzerland concluded with Tehran securing waivers for oil and petrochemical exports, easing concerns over potential supply disruptions. Brent crude futures were down 1.90% at $79.04 per barrel.
Oil prices hit a three-month low as the US reportedly allows Iran to sell crude immediately under a conflict resolution deal. Brent futures fell below $80, WTI down 5.9%. Details emerge at the G7 summit in France, though conflicting accounts of the deal persist.
Oil prices hit a three-month low as investors await details of a US-Iran agreement to end the Middle East conflict. Brent crude fell below $80, and WTI futures also dropped. The G7 summit in France will discuss the deal, with conflicting reports on its content and timeline.
Oil prices dropped to their lowest in three months as investors await details of a U.S.-Iran agreement to end the Middle East conflict. Brent crude fell below $80/barrel, with WTI also declining. The deal, expected to reopen the Strait of Hormuz, will be discussed at the G7 summit.
Oil prices hit a three-month low as Brent crude futures fell to $82.13 and WTI futures dropped below $80. Investors await details of a U.S.-Iran agreement to end the Middle East conflict, which includes reopening the Strait of Hormuz.
Oil prices hovered near $80 per barrel as Middle East conflict shows signs of de-escalation. WTI crude traded at $81.12 and Brent at $83.43, up from Monday's near 5% fall. A signed memorandum of understanding aims to end the conflict, potentially reopening the Strait of Hormuz.
Global oil prices have fallen to a three-month low and stock markets have reached record highs amid optimism that a US-Iran peace deal could resolve the energy supply crisis. Brent crude dropped 4% to $83 as hopes rise for the reopening of the Strait of Hormuz.
Global oil prices dropped to a three-month low and stock markets rallied amid optimism over a potential US-Iran peace deal that could reopen the Strait of Hormuz and ease energy supply concerns. Brent crude fell below $83 a barrel, while wholesale gas prices declined in Europe.
Global oil prices dropped and stock markets surged as optimism grew for a US-Iran peace deal, potentially reopening the Strait of Hormuz and ending a major energy supply crisis. Brent crude fell below $84/barrel, while European and Asian markets rallied.
Global oil prices dropped significantly as optimism grew for a US-Iran peace deal, potentially reopening the Strait of Hormuz and restoring Gulf oil exports. Brent crude fell below $84 a barrel, reaching its lowest since early March.
Global oil prices fell after an Iran war ceasefire and the reopening of the Strait of Hormuz were announced. However, energy experts warn that restoring full oil and gasoline supplies will take several months due to stranded ships and the need for safe passage for new tankers.
News highlights include Russia's dismissal of IAEA report on ZNPP blasts, Moscow and St. Petersburg piloting road accident reforms, and Kremlin concerns over US-Iran escalation. Russia also addresses Transnistria tensions and awaits US ambassador appointment. Iran seeks war end over normalized US relations, with Qatar mediating a deal proposal. Trade between Russia and Kazakhstan increased 16%. US diplomat claims US gives Ukraine carte blanche for attacks inside Russia, while Russia claims troop advances in Ukraine. Former German diplomat regrets missed 2021 talks with Russia. Putin states Russia sought to stop war in Ukraine for eight years. US VP states Iran won't get funds for simply signing a deal. British PM faces no plans to step down after resignations.
Venezuela's oil and refined product exports increased by 61% year-on-year to 1.25 million barrels per day in April, marking a third consecutive month of growth. This surge is attributed to the easing of US sanctions and increased foreign investment, with the government aiming to boost daily production to 1.37 million barrels by year-end.
Oil prices dropped after a reported US-Iran deal for a 60-day ceasefire extension and nuclear talks, pending Trump's approval, despite recent US strikes on Iran.
US President Trump is under pressure regarding the Iran conflict, with the Pentagon drafting plans for renewed military action if diplomacy fails. Options include intensified bombing and Special Operations deployment, while Iran signals readiness for hostilities. The Strait of Hormuz remains a key concern.
India's government is urging citizens to cut petrol and diesel use. This comes as the Strait of Hormuz situation tightens and global oil prices climb. Prime Minister Narendra Modi has appealed for reduced consumption. Public transport and electric vehicles are encouraged. Fuel supplies remain stable for consumers. However, state-owned oil companies face significant losses.
India's government is urging citizens to cut petrol and diesel use. This comes as the Strait of Hormuz situation tightens and global oil prices climb. Prime Minister Narendra Modi has appealed for reduced consumption. Public transport and electric vehicles are encouraged. Fuel supplies remain stable for consumers. However, state-owned oil companies face significant losses.
Hong Kong authorities have arrested 27 people and seized more than 21,000 litres of illicit fuel worth about HK$3.3 million (US$421,200) in a crackdown on triad-linked illegal fuel sales amid soaring global oil prices. Customs, police and fire services on Wednesday said they had jointly tackled 19 cases between April 13 and 30 in an operation code-named “Knockout”, during which 15 vehicles and a speedboat used to transport the fuel were also seized. The investigation found that the vehicles were...
