Oil price jump brightens fragile global markets

Oil price jump brightens fragile global markets
Rebecca Howard
Oil prices jumped more than 20 percent on news Saudi Arabia and Russia may have reached a deal to scale back production, helping boost stocks on Wall Street and setting an upbeat tone for local markets. The spot price of Brent crude oil rose as high as US$36.29 a barrel and was recently up 20.6 percent at US$29.84 a barrel after US President Donald Trump tweeted about a deal between the oil producing nations, saying he'd spoken to Saudi Crown Prince Mohammed bin Salman who'd talked to Russian President Vladimir Putin.   “I expect...

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NZ sharemarket falls nearly 0.5%
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Contact Energy expects to report "materially higher" earnings for the year to June 30, 2025. The company said normalised and expected earnings before interest, tax, depreciation, amortisation and fair value adjustments (ebitdaf) for FY2025 were expected to be $770 million, well a...

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AAP 08 Jul 2024