Trump’s oil sanctions hit home
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What are today’s headline market moves after Trump’s Russian oil sanctions?
Donald Trump slaps sanctions on two big Russian oil producers, and that might be enough to stop India buying from them. That's helped oil prices today. And equities have responded to the news that a meeting will go ahead next week between Trump and G. And the official data drought stops for the US for one day. Maybe just an oasis in the desert. We get belatedly US CPI, and a lot of interest in what those numbers are going to show. And Michelle Bullock will see. make the RBA's timing any clearer today. It's Friday, it's the twenty fourth of october, twenty twenty five. It's the morning call from Nab. Good morning. Big moves up in oil today. We're going to talk about that in a moment. The Aussie dollar is up 0.3% on a US dollar, which is itself up a little bit.
The Aussie now over sixty five US cents. And the Yen is down half a percent. US equities are higher, up uh three quarters of a percent for the Nasdaq, 0.6% for the S P. Ten year treasury yields back up today, rising five basis points back up to four percent. Aussie ten years at four point one per seven percent this morning and he is uh Nab Sky Masters with me today. Look, gold uh back up today, naught point seven percent higher for spot, uh two point two percent for uh for Comics gold. Now I might have said gold was still over four thousand a barrel yesterday, uh which uh Ray emailed me to say, well that would be a real bargain, wouldn't it? So I hope people haven't been too disappointed. Uh but you know it is becoming so popular, maybe they will start shipping it in barrels.
Uh but it was the per ounce price, of course, which is now around four thousand one hundred and thirty uh dollars for spot right now. Uh so th the pullback that we saw yesterday was uh apparently down to ETFs pulling out of gold, and obviously some of that has moved back in again today. So that means a lot of it was uh retail investors influencing that. But the big Move is oil, WTI and Brent, uh both up over five and a half percent. Brent over sixty six a barrel now because President Trump has made a bold move against uh two Russian oil companies, Rosneft and Luke Oil.
How did the sanctions push oil prices and affect global equity markets?
They've been slapped with sanctions, and he's cancelled the meeting with Putin in Budapest because of this barrage of drone attacks on Ukraine, and there has been quite a lot of market reaction to this.
Yeah, I as as you said, oil oil prices are uh higher again o overnight. Uh, you know, on my read WTI oil is up. close to nine percent over the past two trading sessions and um you know that that's all being driven by um what you just said about the the sanctions that the US has announced on on Russia's largest oil companies. Um and it is, you know, that is um those price movements in the oil price have uh sort of filtered through into bond yields which you said at the start are are higher. Um but just looking at Yeah, the news on on um what's going on in oil, uh Yeah, the the the supply of oil is is not really or the global supply of oil is is really not an issue. Um you know, my read you know there's talk that the number of tankers at sea is at re at record highs.
So supply's not necessarily an issue at the moment, but these you know, sanctions are obviously seeing that they're gonna disrupt uh Russian crude exports and there are reports overnight that refineries in India and India about a third of India's imports come from Russia. Um so refineries in India and China um have paused their purchases of Russian oil following um the US sanctions. Yeah,
so not only is a a third of India's oil coming from Russia, but also in Russia, a third of all of their state revenue comes from oil as well, uh from w wherever they're selling it to. So uh a f a third of their budget basically. So I mean it could have quite a profound effect.
Yes, definitely. And you and Europe has also announced or increased its pressure on Russia. I think they've announced sort of they're targeting Russia's energy infrastructures and um sort of c including a bla ban of LNG imports. Um that's obviously not happening 'til two thousand twenty seven, but there's a lot of
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Chapters
4 chapters
1
What are today’s headline market moves after Trump’s Russian oil sanctions?
0:01–2:05
2
How did the sanctions push oil prices and affect global equity markets?
2:05–6:15
3
Why might the recent surge in oil prices be short‑lived according to analysts?
6:15–10:48
4
How are India and China responding to the U.S. sanctions on Russian oil producers?
10:48–14:49