Oil hits $US95 ahead of big week of earnings
The rally in energy markets on the expectation a Russian invasion of Ukraine is imminent, after the White House said it could happen “at any time”, has injected a new dynamic into the profit reports due this week, including BHP Group’s earnings on Tuesday.
The Australian sharemarket will open 0.4 per cent higher from Friday’s close of 7217.3 points, futures indicate. The threat of war added to the already downbeat mood for equities on Wall Street as the US Federal Reserve prepares to raise interest rates next month amid speculation of a possible supersized hike. The Fed funds rate is between zero-and-0.25 per cent; it could jump to 0.5 per cent-to-0.75 per cent if traders are right.
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