Firing over the line
Oil prices rose on the news of the new head of the US energy department, more so, says NAB’s Rodrigo Catril, than the likely escalation of the Ukraine war.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 19th November 2024
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Oil increased in price today. At first glance you might assume this was a response to the news that President Biden has authorised the use of US weapons to be fired by Ukraine into Russian territory. But NAB’s Rodrigo Catril says prices really rose in response to the news that the CEO of Liberty Energy - a company focused on fossil fuels - has been nominated as head of the Energy Department. Curious that the prospect of more oil wouldn’t bring prices down. Rodrigo also talks to Phil about European trade and wages data, NZ PSI and PPI numbers from yesterday, US housing and Canadian inflation. And self-drive cars, maybe a step closer.
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