The Saudi aftermath - winners and losers
Tuesday 17th September 2019 Brent Crude rose 20 percent at the market open on Monday morning, the biggest single move since the invasion of Kuwait in 1990. Phil Dobbie talks to NAB’s Rodrigo Catril about the lasting impact of the strike, which could see oil prices higher for months to come. The issue goes beyond supply to questions of ongoing political repercussions. They also discuss who will be the winners and losers and the effect on that other area of uncertainty, the US China trade war. The hurt to be felt by China will compound the downturn shown in retail sales and industrial production. Meanwhile the pound lost most of Friday’s gains as Boris Johnson turned up for lunch with no concrete plans for a Brexit deal. Plus, what can we expect from the RBA minutes released today?