The Australian share market is set to rise on Thursday, after a strong day on Wall Street as the oil price plunged amid positive signs other nations would fill some of the supply gap left by bans on Russian oil.
The Australian share market is set to rise on Thursday, after a strong day on Wall Street as oil price plunged amid positive signs other nations would fill some of the supply gap left by bans on Russian oil.The ASX is poised to climb on Thursday after rising sharply in the previous sessionAt 8am AEDT, ASX SPI futures were up 0.3 per cent to 7,066.
On Wall Street, the Dow Jones Industrial Average soared 2 per cent to 33,286, the S&P 500 had its best day since June 2000, up 2.5 per cent to 4,277. The Nasdaq Composite was up 3.6 per cent to 13,255. "That's not nothing," he said. "They can probably bring about 800,000 barrels to the market very quickly, even immediately."
However, Mr Kasman said Europe would struggle to be able to offset all of the Russian gas pipeline flow planned for the rest of the year.
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