17 گھنٹے پہلے
Australian fuel industry warns pump prices could climb as global oil buffers shrink
Global oil stockpiles are being drawn down at a record pace, with the International Energy Agency estimating inventories have fallen by 507 million barrels since the conflict began. Disruptions have escalated as Ukrainian attacks have severely damaged Russia’s refining sector, which typically accounts for 4 per cent of global capacity, while China is preparing to lift crude imports. In Australia, average petrol prices have jumped nearly 40 per cent since July to above $2.30 a litre and diesel has risen nearly 60 per cent to $2.88, heightening concern about further increases.
17 گھنٹے پہلے
18 گھنٹے پہلے
Oil extends slide to a sixth session, with Brent dropping below $100 a barrel amid US-Iran talks hopes
International oil prices fell for a sixth consecutive session, with Brent crude slipping below $100 a barrel to a more than two-week low. Reports said Saudi Arabia has restarted its east-west oil pipeline, lifting expectations of additional Middle East supply. Hopes for progress in negotiations between the United States and Iran also eased supply concerns and weighed on prices.
18 گھنٹے پہلے
21 گھنٹے پہلے
Novo Nordisk CEO signals openness to direct New York Stock Exchange listing to replace ADRs
Novo Nordisk CEO Maziar Mike Doustdar said the company is open to a direct listing on the New York Stock Exchange to replace its existing American depositary receipts, the Financial Times reported. He said the move would reflect a shift in the company’s investor base over the past 20 years away from Scandinavia and toward the United States. Novo’s shares have fallen more than 70% from their peak, while Eli Lilly’s have risen. Lilly’s weight-loss drug Zepbound is expected to outsell Novo’s Wegovy this year by more than $7 billion.
21 گھنٹے پہلے
21 گھنٹے پہلے
Wheat buyers brace for higher prices as Black Sea exports shrink and Chicago futures jump 40%
Global wheat buyers are facing rising costs as the Russia-Ukraine war continues to squeeze exports from the Black Sea region. Russia’s September exports are expected to fall to 1 million tons and Ukraine’s to about 1 million tons, both roughly half of last year’s levels. Benchmark Chicago wheat futures have climbed 40% from June lows to a three-and-a-half-year high. Indonesian buyers have shifted to suppliers such as Argentina and Australia, paying 20% to 25% more than they previously paid for Black Sea wheat.
21 گھنٹے پہلے