Australian shares move within 50 points of record close. China’s next rate decision ahead. Core Lithium poaches former MinRes exec for CEO role. Follow updates here.
Oil steadied after a weekly gain as geopolitical risks in Russia and the Middle East came back into focus following attacks over the weekend. Brent futures traded near $US84 a barrel after posting the first weekly advance this month, while West Texas Intermediate was below $US80. A Ukrainian drone strike on a small Russian refinery halted operations on Sunday, the latest in a string of attacks as fighting intensifies between the two countries.
The market is also watching for developments on the search for Iran’s President Ebrahim Raisi after his helicopter crashed. Supreme Leader Ayatollah Ali Khamenei said there “won’t be any disruption to the country’s affairs” as a result of the incident. Global benchmark Brent is around 9 per cent higher this year due to OPEC+ supply cuts but prices have cooled since mid-April as geopolitical tensions eased.
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