Episode Details

Australias share market plummeted at the open, shedding over five percent following a US market downturn. The ASX 200 index initially tumbled but rebounded slightly, climbing 12.6 points or 0.18% to 8644.8. Oil prices surged past $100 a barrel, the highest in three years, due to Middle East conflicts. Energy stocks surged, with Woodside and Santos gaining over ten percent since recent air strikes. Analysts predict higher inflation and interest rates, with markets anticipating key central bank meetings next week. Banks and miners fluctuated, while health care stocks hit seven-year lows. The government plans to release extra fuel from reserves and ease fuel standards. Qantas shares rose after a settlement, and the Aussie dollar dipped to 70.87 US cents.

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