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Markets live: Wall Street retreats as oil prices continue to rise, ASX set to slip
Oil prices jumped 3 per cent to $US120/barrel, a level not seen since early in the US/Iran war.
That has seen risk assets like shares put under pressure, with key US indices all falling on Friday and the ASX set to follow today.
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Live updates
Market snapshot
- ASX 200 futures: -0.5% at 8,774 points
- ASX 200 (Friday): flat at 8,795 points
- Australian dollar: +0.2% to 70.33 US cents
- Wall Street (Friday): S&P 500 -0.5%, Dow -1.2%, Nasdaq -0.2%
- Europe (Friday): Dax -0.8%, FTSE -0.3%, Eurostoxx600 -0.3%
- Spot gold: -0.7% to $US3,996/ounce
- Oil: Brent futures +3.1% to $US116.72/barrel, WTI futures +3.8% to $U103.27/barrel
- Iron ore (Friday): +0.5% to $US90.40/tonne
- Copper (LME): -1.8% to $US14,098/tonne
- Bitcoin: +0.1% $US80,529
- 10-year bonds: US 5.00% Australia 5.17%
Prices current at around 7:00am AEDT
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Good morning
Good morning and welcome to another day on the ABC markets and finance blog.
Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.
Wall Street closed lower again on Friday, dragged down by rising oil prices and anxieties about inflation.
Oil will again be a focus today.
Futures trading points to the ASX 200 slipping around 0.5% on opening.
The game's afoot, so let's get blogging.
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