News Portal

Why Oil Prices Will Continue To Lag in 2024

Oil prices, which had averaged above $100 per barrel in 2022, were significantly lower in 2023 and averaged just above $80 a barrel—despite another war breaking out in the world. The Hamas-Israel conflict, which began in early October, lifted oil prices, but only briefly. In less than a month, prices had given up all the gains from the new geopolitical risk in the most important oil-producing and oil cargo transit region in the world. if(window.innerWidthADVERTISEMENTfreestar.config.enabled_slots.push({ placementName: "oilprice_medrec_atf", slotId: "oilprice_medrec_atf" });';document.write(write_html);} Brent Crude , the…

Australian sharemarket slumps, tracking Wall Street losses

Stocks fell again on Thursday as the Australian sharemarket’s slow start to the year stretched into a second day following the negative lead of Wall Street. The S&P/ASX200 fell 29.6 points, or 0.39 per cent, to 7493.6 about 10.30am, weighed down by 10 out of the 11 sectors. The ASX has followed Wall Street’s lead. Credit: Louise Kennerley Energy (up 0.98 per cent) was the only sector trading in the green, tracking the higher crude oil price. Brent crude rose to $US78 a barrel amid tensions in the Middle East and an OPEC statement stressing its commitment to stabilising prices. Woodside rallied 1.19 per cent, Santos was up 0.73 per…

Australian sharemarket slumps, tracking Wall Street losses

Stocks fell again on Thursday as the Australian sharemarket’s slow start to the year stretched into a second day following the negative lead of Wall Street. The S&P/ASX200 fell 29.6 points, or 0.39 per cent, to 7493.6 about 10.30am, weighed down by 10 out of the 11 sectors. The ASX has followed Wall Street’s lead. Credit: Louise Kennerley Energy (up 0.98 per cent) was the only sector trading in the green, tracking the higher crude oil price. Brent crude rose to $US78 a barrel amid tensions in the Middle East and an OPEC statement stressing its commitment to stabilising prices. Woodside rallied 1.19 per cent, Santos was up 0.73 per…

Boost for Queen Elizabeth’s favourite coat brand as Gucci and Ganni…

Barbour’s sales hit a record high last year as tie-ups with high-end fashion brands helped it gain traction among younger shoppers. The South Shields-based British business collaborated with the likes of Gucci and Copenhagen’s Ganni in a bid to revitalise the 129-year-old brand. According to the company’s chairman, Dame Margaret Barbour, the late Queen wore the same Barbour jacket for 25 years. Credit: Getty Barbour also partnered with model Alexa Chung and luxury womenswear brand Chloe, as it boosted sales up by almost 20 per cent to £343 million ($640 million) in the year to April 2023. Founded in 1894 by John Barbour, the…

Australian sharemarket slumps, tracking Wall Street losses

Stocks fell again on Thursday as the Australian sharemarket’s slow start to the year stretched into a second day following the negative lead of Wall Street. The S&P/ASX200 fell 29.6 points, or 0.39 per cent, to 7493.6 about 10.30am, weighed down by 10 out of the 11 sectors. The ASX has followed Wall Street’s lead. Credit: Louise Kennerley Energy (up 0.98 per cent) was the only sector trading in the green, tracking the higher crude oil price. Brent crude rose to $US78 a barrel amid tensions in the Middle East and an OPEC statement stressing its commitment to stabilising prices. Woodside rallied 1.19 per cent, Santos was up 0.73 per…