CommSec’s Craig James says the price of oil rose after Iran seized an oil tanker in the Gulf of Oman.
“The oil tanker hijacked in the Red Sea pushed up the Brent price by eight-tenths of one per cent,” Mr James told Sky News Australia.
“Similar rise for the Imex price.
“That should help our energy sector today, but it will be bad for most other sectors.
“Particularly in terms of the consumer-focused areas.”
Presented by CommSec.
Joining us from comsec is Craig James good morning to you Craig how did we go overnight with the markets yeah a little bit weaker though a lot can change for the United States Market moving into the last era of trade at one stage we had the Dow Jones down
Over 270 points but currently it’s down just 20 points or 1110 to 1% and similar sorts of declines for the standing pors and the NASDAQ it was all eyes on the US inflation figures Consumer Price Index out last night it came in a little bit higher than expected the expectation was
A 0.2% rise in the month of December came in at 0.3% and the headline rate rather than 3.2% it was 3.4% so that could caused concern that perhaps us interest rates may not come down this year as fast as many had expected and thus we saw the selloff but there’s been a Readjustment
Or reassessment as we’ve gone through the session if we look at us 10year yields certainly a measure you of how people are concerned about yest inflation it was actually down four basis points to 3.99% weaker in Europe declines around about 810 to 1% across the European
Region and in terms of our share market currently the expectation is down around about 40 points or 610 to 1% but a lot can tra change in the next s of 90 yard minutes um the oil price is higher uh the oil tanker hijacked in the Red Sea
Was um pushed up the the brand price by 810 to 1% similar rise for the NX price that should help our energy sector to today um but um yes it be bad for most other sectors particularly in terms of the consumer Focus yes areas uh we also have later tonight business inflation
Figures coming out of the United States the producer price index so all eyes will be on there as well as a number of banks which will be reporting their earnings JP Morgan Chase Bank of America Wells Faro amongst those reporting earnings we’ve got lending Finance or Housing Finance data here in Australia
Today and in China lat later today we also have the trade and inflation figures as well all right we’ll check in with you later this morning Craig James thank you
44 Comments
Hunter Biden stealing oil by the sound's Of IT
Facilitated by Israel and the Rothschilds
History – Biden's mate the Antichrist power and the evil satanic secret army put barrels of dynamite under the British parliament buildings to ASSASSINATE ( kill) the King of England. They were caught and tried and executed.
The Antichrist power
Assassinated ( killed) President Abraham Lincoln.
The Antichrist power ASSASSINATED President John Kennedy.
The Antichrist power did 9/11 to bring in laws to spy and control us.
The Antichrist power brought in a false climate change.To bring in laws to control us.
The Antichrist power is bringing in hate la s so we can't y😊😊😊
Let’s Go Brandon!! FJB
This is all planned by the corrupt swamp currently controlling USA politics.
Masha and the Bear,
Respect to all the real religions which respect other religions… Requesting governments to ban the evil zombie radical terror desert cult which says to kill non believers….
Before you come in here with muslim slander remember who's land the oil came from
I am personally not baited into a war yet. Try harder. No my dog not my problem trusted media sure trust them tug tug.
This is exactly the US that did last year, if it's good why Iran doesn't do it and if it's bad you don't either.
#The_era_of_bullying_is_over…
Bloody ell mate how much oil is in one of these tankers
Prices are super hi in the U.S….poor people getting hit hard
Obviously part of the OPEC agenda. When fossil fuels end, that lot will be screwed.
Its all been predicted, the aim to make life as difficult as possible over the next few months ( and it will get worse) so that we will have no choice but kneel before the one world dictators.
Theres only one power I do and will ever kneel before and thats Almighty God, seek and you shall find 🙏🏼🕊
Must be a super large tanker. Probabaly the only tanker in the world too.
The Antichrist power brought in hate laws, to try stopping us proving to you from the bible & history who the Antichrist is.
1. Bible & History – this Antichrist power controlled the world in the past for 1260 years.
2. Bible & History – Antichrist power received a deadly wound.
3. Bible & History. Antichrists wound is healed,
4. Bible & History – The Antichrist power secretly still controls he world today.
5. Bible & History – Antichrist power is a religious political power.
6. Bible & History – Antichrist power has a satanic secret army.
For dozens more proofs please look up-
Pastor Doug Batchelor
"Amazing Facts"
Plus watch
Professor Pastor Walter Veitch
"What's Up Prof"
Only one bull
If only we had oil here in the united states.
Bad bad Iran for taking its own tanner back stoland renamed by the big bad wolf USA.
eye for an eye, a tooth for a tooth. Now it belongs to Iran
Other day ago American seized iran oil tanker, right now iran have right to seized American oil tanker, 😂😂😂 so this fair,
All those saying "we shouldnt get involved" are also the first ones to b!tch when fuel and others things increase in price.
Obama’s boys are at it again
mmmmm, interesting, for most of us it has not been worth ditching an ICE particularly the smaller cars for an EV in dollar terms, but that is only one factor, weening yourself off oil from disagreeable regimes is becoming more compelling.
funny all sudden we have too much oil and price goes down and then a tanker goes missing
A cammel farts in the desert and the price goes up
any excuse…..was the tanker full, or empty?
Good excuse for more 'revenue capture'… total bullshit. Those low earning no future no savings no assets class will eat the losses. Champagne and lobster breakfast for the Oligarchs of OZ.
Has the Attorney General declared 'time of war' yet, has he provided 90 days notice for conscroptions to begin?
oil price rise after 1 tanker stolen 😆😆😆 any excuse will do will it get cheaper when they get the insurance money back
Considering we only import 1% of petrol to Australia… I call bullshit on inflated petrol prices
Don’t expect the world’s most powerful navy to do anything. Our president has dementia and our defense secretary went to the hospital and didn’t tell anyone. It’s up to some other country to stand up to terrorism until we can get a real president back in office, should be about a year.
Any county can do what ever they want to the US because right now the United States is a joke of the world.
This is what happens when you have a traitor in the WH. He returned money to Iran calling it humanitarian aide. Since then we have Iranian sponsored terrorists aka Hamas starting a war and now Iran is committing piracy on the high seas.
In October oil was 86USD a barrel, now it is 73USD. Gee it looks like the market is LOL pushed the price so high. Last week it was 76USD a barrel. Don't ever trade off news headlines you will go broke faster than a western nation.
Iran's main aim is growing militants making problems in good countries in this back friend countries be coming enimity they beginning war then sellin billions of baarel crude oil selling Price hike.
But this idea is skill born and shortly a invisible attacks getting from the help of other oil counties.
Iran is dangerous headache of the world new born child.
Thanks in Australia we still have gas and coals 🤭
So where's America on this one. Iran is spitting on them. The U.S. either pulls it's big girl blouse on, and smacks Iran down – or walks away defeated. And the rest of the world will know then – the U.S. is done as a world power. Take note Atrocious Airplane Albo – your big tough mates – are tough no more. And Atrocious Airplane Albo – has no plan B – he went to China – and got called a "handsome boy". Amazing where even when someone is taking the the piss out of you – Albo – still smiled and let the Chinese leadership – piss all over him.
Atrocious Airplane Albo – has a got a huge problem. He's cut Australia's defense spending – and he ignored Trump and Biden telling Australia – time to man up – and pay for your own national security.
Instead Atrocious Airplane Albo – hopped on a plane to China. And don't think that does not go unnoticed in Washington. They don't take kindly to Atrocious Airplane Albo – sucking to China – and wanting the U.S. to defend Australia.
Atrocious Airplane Albo – about to find out – where he really fits into the grand scheme of things. At the bottom of everyone's opinion. He has no-one's respect.
Seriously one tanker "hijacked" and fuel to go up globally
Yeah right
Iran didnt seize anything. It reclaimed its oil stolen by the pirates of the US.😂 Hypocrites!
Of course, Sky News fails to mention that this oil originally belong to Iran and was stolen by the US last year. Iran reclaimed it's own oil, how convenient that this charlatan fake news channel doesn't mention that
ITS OIC 🦌🎤🙏PEACE.⚡🪁🌳🎶🎶🌺🕊️🕊️👐
Energy companies, and businesses are rubning their hands together with all of the further proce gouging they will commit in 2024
It's just getting worse with Iran, the main source of world instability and trouble.
Pirates plain and simple
1 tanker seized and prices go up… One tanker is absolutely nothing in the great scheme of things… If you said a couple of refineries, then OK… Any excuse for these grubs to screw us.
How dumb are Australian politicians over the last 50 years to leave Australia in a position that we rely on countries on the other side of the world for our oil. Dumb asses