Today
Oil edges higher as Red Sea risks outpace rising US inventories
Oil swung in a wide range before ending the session in New York modestly higher, extending its winning streak to three days.
- Updated
- Julia Fanzeres and Alex Longley
Yesterday
Shares hit a high; Trump not eligible; 2023 good and bad
Read everything that’s happened in the news so far today.
Oil holds gains as Red Sea attacks cause panic among shippers
Brent rose above $US79 a barrel and US oil extended gains above $US74 as more companies opted to avoid the key shipping conduit.
- Julia Fanzeres and Mia Gindis
This Month
Freight, oil climb as Red Sea attacks shut down shipping
Intensifying attacks from Houthi rebels in the Red Sea hastened a US-led response to a dangerous escalation of the Gaza war that threatens global trade.
- Jenny Wiggins, Jacob Greber, Sarah Jones and Mark Mulligan
- Opinion
- Chanticleer
Red Sea oil spike is exactly what markets and central banks don’t need
Falling energy price have made the fight against inflation much easier, which in turn has boosted markets. The Red Sea attacks threaten to change that.
- James Thomson
RBA considered rate rise; Oil, gas surge; WFH’s new phase
Read everything that’s happened in the news so far today.
Oil set for first weekly gain since October on Fed relief rally
Global benchmark Brent crude is heading for a 1.6 per cent gain this week, ending a run of seven straight declines.
- Yongchang Chin and Alex Longley
‘Don’t do it’: Woodside investors baulk at Santos tie-up
Portfolio managers are understood to have voiced concerns to chairman Richard Goyder and senior management that a merger just for scale doesn’t make sense.
- Angela Macdonald-Smith
Oil rebounds from July lows as Fed signals stoke risk-on mood
West Texas Intermediate rose as much as 3.8 per cent to trade above $US72 a barrel on Thursday.
- Julia Fanzeres and Jack Wittels
This CEO is paying a $62m price for misleading his board
BP’s former chief executive, Bernard Looney, was formally sacked after the oil giant found he knowingly misled the board over his relationships with staff.
- Updated
- Matt Oliver
Oil steadies after longest decline in five years
Oil has dropped by about a fifth since late September as output surges in the US and other key producers.
- Updated
- Grant Smith and Yongchang Chin
PNG says it wants priority in Woodside Energy-Santos merger
The comments from Kerenga Kua, the country’s petroleum minister, came as the companies opened virtual data rooms ahead of several weeks of due diligence.
- Angela Macdonald-Smith
- Opinion
- Chanticleer
Woodside, Santos $80b merger a game of stockmarket multiples
If Woodside is going to pull this off, it needs to convince Santos shareholders that the deal will bring them risk-free riches if they are a bit patient.
- Anthony Macdonald
Santos investors demand premium in Woodside mega-merger
Creating an $80 billion Australian “champion” with real clout on the global LNG stage faces a big challenge as Santos investors demand a decent premium.
- Angela Macdonald-Smith
Petrol prices drop 30¢ at the bowser as oil slumps
It is good news for motorists as NRMA says petrol prices are expected to fall further across the country, unless you live in Sydney.
- Joanne Tran
- Opinion
- Chanticleer
Woodside-Santos merger could arrive with a skinny premium
Big scrip-based energy deals have been struck on very low premiums in the past three years. Expect the Woodside-Santos talks to proceed along the same lines.
- Updated
- James Thomson
Oil’s brief relief rally fades as bearish sentiment settles in
US oil retreated below $US70 a barrel after slumping 11 per cent over the previous five sessions, the longest run of daily losses since February.
- Mia Gindis
- Updated
- Mergers & acquisitions
Santos, Woodside in talks on $80b oil, gas merger
The two companies have confirmed that they had entered preliminary discussions, in a surprise move that reflects a global trend of consolidation in the sector.
- Angela Macdonald-Smith
- Opinion
- Chanticleer
Woodside-Santos merger makes sense. Now for the hard part
Global energy giants have got even bigger in 2023, and doubled down on fossil fuels. A merger between Woodside and Santos would create a national champion to stand among them.
- James Thomson
Oil drops to a five-month low as US crude exports fuel pessimism
US benchmark West Texas Intermediate fell more than 4 per cent to break below $US70 a barrel. Brent crude slid below the $US75 mark.
- Julia Fanzeres and Alex Longley
