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Middle East Tensions Drive Energy Surge | Perth News
Description
Oil prices surge to six-week highs as Middle East tensions spike, rattling energy stocks like Woodside and Santos while squeezing supply through the Strait of Hormuz. Coal and uranium plays like Deep Yellow gain momentum with new contracts, while banks and insurers show resilience. Non-energy miners and gold producers lag, and consumer stocks stumble after a major alcohol retailer gets downgraded. Meanwhile, Australia’s ASIC lands record civil penalties — with billions set to be returned to investors as part of a bold accountability push.
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