Japan’s Inpex has pledged Australian buyers will have first dibs on its next fuel cargo amid a global scramble to shore up supply disrupted by the Middlle East conflict.
Markets reacted quickly to US President Donald Trump’s blockade threat, with oil prices spiking and the ASX falling amid fears of global supply disruption.
The federal budget will be billions of dollars better off, even with added spending, because of higher commodity prices and inflation, a top economist says.
One of the world’s top-ranked airlines says it will cut flights from mid-May until the end of June, citing soaring jet fuel costs triggered by the ongoing conflict in the Middle East.
Uniqlo’s Australian stores were among the top performers for its Japanese owner in the half-year — bucking the nation’s retail malaise amid rising interest rates, steeper fuel prices and a general cost crisis.
A gas export tax could make it harder for Australia to secure imported fuel from Asia, with a Senate committee examining the idea as Anthony Albanese is in Singapore meeting with its PM Lawrence Wong.