News Snapshot:
The sudden and sharp fall in oil price on Wednesday night came as a relief to investors and central banks, cooling the surging bond yields and inflation fears. Reports suggesting that Russia might soon lift its diesel ban and US fuel demand is weaker than expected sent Brent crude down 4.3 per cent – the biggest drop in a year – to $US87 a barrel, after it spent a few days well above $US90. Oil prices have surged 30 per cent in three months, so a pause is not unexpected. And it couldn’t have come at a better time, given...
