September 27, 2023

A critical US oil town, Cushing, Oklahoma, is grappling with a dire oil shortage that is sending shockwaves through energy markets, pushing US oil prices above $94 per barrel for the first time since August 2022 and raising the specter of breaching the $100 mark in the near future. The crisis hinges on a complex […]

While oil prices remained resilient against a strong US dollar and rising bond yields, gold investors panicked, causing Comex futures prices to dip below $1,900 per ounce. The US dollar continued to strengthen (causing the Aussie dollar to drop towards 63 US cents), and US bond yields surged, with the 10-year bond yield hitting 4.61%

Shares of China Evergrande, the beleaguered property developer, tumbled on Wednesday following a Bloomberg report revealing that its chairman had been detained by Chinese authorities over a month ago and was currently ‘being held’ at an undisclosed location in China. The news caused the shares to drop significantly, going from a modest 1% gain in

The Dow Jones Industrial Average fell Wednesday, building on the steep losses from the previous session, as an uptick in Treasury yields and oil prices dented investor sentiment. The 30-stock index fell 68.61 points, or 0.20 per cent, landing at 33,550.27. Earlier in the session, it was up as much as 112.77 points. The S&P

The Reserve Bank is unlikely to make any hasty decisions during its upcoming meeting next week, despite a mixed bag of news from the August consumer inflation report. According to data released by the Australian Bureau of Statistics on Wednesday, annual headline consumer prices rose by 5.2%, up from July’s 4.9% – marking the first

Five days ago, Perth-based Mineral Resources (ASX:MIN) issued a comprehensive update on its various mines and prospects in Western Australia, particularly in lithium and iron ore. On Tuesday, the company revealed plans to raise $US850 million ($A1.3 billion) through five-year bonds. In the statement, MinRes indicated its intention to utilise the proceeds from the offering

The Australian stock market didn’t react significantly to a 5.2 percent increase in inflation because it was in line with expectations. The S&P/ASX 200 index closed down slightly by 0.1 percent at 7030.3 points, with nine out of eleven industry sectors seeing losses. The All Ordinaries also fell by 8.4 points to 7299.9. Futures The

The S&P/ASX 200 is trading 0.29 per cent lower at 7,018.00. Futures The SPI futures are down 17 points. Best and worst performers All sectors are in the red. The sector with the fewest losses is Financials, down 0.14 per cent. The worst-performing sector is Information Technology, down 1.01 per cent. The best-performing large cap