ABC Business Daily

The UAE is leaving the Organization of the Petroleum Exporting Countries (OPEC), marking another shift for a group that once had far greater control over the global oil market.  So what does the move mean for oil prices, supply shocks, and the balance of power in energy? Carrington Clarke and Alan Kohler help you stay on top of the numbers behind the ongoing energy crisis on Fuelcast on ABC Busine...

Under outgoing CEO Tim cook’s 14-year tenure, tech titan Apple skyrocketed from the billions to the trillions of dollars in value. But unlike its competitors, Apple has been relatively restrained in AI investments. Is that about to change? And the Opposition is calling on the government to double minimum fuel reserves held in Australia as it unveils a proposed fuel plan in light of the ongoing ene...

For watchers of the Australian economy, it’s off to the races, with important data and decisions on the horizon.   Wednesday's inflation numbers will provide crucial information for the RBA’s interest rate decision expected next month.   And in the United States, five of the so-called Magnificent Seven tech companies, are set to release their results this week, causing investors to revisit questio...

Donald Trump has issued a fresh warning on Iran’s oil infrastructure - even as petrol prices edge back towards where they were before the conflict began. With diesel still elevated, are lower pump prices hiding the broader economic damage of the ongoing energy shock? Carrington Clarke and Ian Verrender help you stay on top of the numbers behind the ongoing energy crisis on Fuelcast on ABC Business...

A fire at one of Australia’s last two refineries would be a big story at any time. In the middle of a fuel shock, it becomes something else. Viva Energy is at the centre of a very difficult moment for Australia’s fuel system. As the Geelong refinery deals with the fallout from last week’s fire, and conflict affecting the Strait of Hormuz continues to drive prices higher, Alan Kohler asks what it m...

Petrol prices are moving closer to where they were before the war began - but diesel is telling a different story.  With Brent crude rising again, why has unleaded eased while diesel remains so high, and what does that say about global supply? Carrington Clarke and Alan Kohler help you stay on top of the numbers behind the ongoing energy crisis on Fuelcast on ABC Business Daily. Got a burning bren...

As solar panels pop up on more rooftops and batteries increasingly soak up excess power to be used later on, the way Australians utilise the power grid is shifting dramatically. New modelling released today from the Australian Energy Market Commission imagines an overhaul of electricity pricing that it says could cut costs by billions. But how do the numbers break down? And who might be the winner...

The cost of a family pack of Oreos became the centrepiece of the opening day of a court case pitting the consumer watchdog against supermarket giant Woolworths. The ACCC says Woolies’ 'Price Drop' marketing misled customers about what discounts were being applied to a range of items. So what's been said on day two? And in the United States, the Senate gathered to grill Trump’s nominee for Federal...

Prime Minister Anthony Albanese and Energy Minister Chris Bowen have announced four additional cargoes of diesel have been secured for Australia. It’s an additional 200 million litres of diesel, coming from South Korea, Brunei and Malaysia.  While this will undoubtedly help Australian industry, what will it cost us in the long-term? And what will this mean for the region? Carrington Clarke and Ian...

When Russia launched its full scale invasion of Ukraine in 2022, it sent the price of natural gas soaring - and Australian consumers faced steep hikes in their electricity bills. But this time around, when war has once again sent the international price of gas skywards, Australia has remained relatively insulated. So what’s different this time? And big news from tech today, with the announcement t...

After a brief window of hope that traffic through the Strait of Hormuz would start to normalise, a harsher reality has kicked in. With both Iran and the US firing on vessels, the oil price is surging once again. Meanwhile, there’s fevered speculation about what the Government could unveil in this year’s federal budget, due to be released in early May. Could the Capital Gains Discount be in for a m...

Petrol and diesel prices have been falling in recent days - but the Strait of Hormuz is once again under pressure. Iran has fired on multiple ships attempting to pass through it, and the US has seized an Iranian-flagged container ship. So what happens now? Are we nearing another major pinch point for global supply - or are we already there? Carrington Clarke and Alan Kohler help you keep on top of...

For years, Australia has managed to avoid some hard questions.  Why is productivity growth going backwards? Why do wages, housing, and living standards feel under pressure? And how long can the country keep relying on good fortune instead of serious reform? Danielle Wood, Chair of the Productivity Commission, is at the centre of that debate. She joins That's Business to talk about what has gone wr...

The Prime Minister visited the Viva Energy refinery this morning, announcing that it is still operating, but at reduced capacity. What should Australians expect in terms of fuel supply against the backdrop of the ongoing energy crisis? Carrington Clarke and Alan Kohler help you keep on top of the numbers behind the ongoing energy crisis on Fuelcast on ABC Business Daily. Got a burning brent crude...

It was a shocking scene for most Australians to wake up to - the Viva Energy refinery ablaze. The fire has raised further questions about Australia’s vulnerability to cuts in fuel supply. Could biofuels be part of the answer? Meanwhile, American markets have surged, leaning hard into the hope that the war with Iran could soon come to an end.  Carrington Clarke and ABC Business Reporter Daniel Ziff...

The world’s financial and economic elite are descending on Washington DC. The International Monetary Fund is holding a series of meetings and warning that the energy crisis is going to mean (at the very least) lower growth and higher inflation. And in a severe scenario, a continued energy supply crunch could see the world stumble into its third recession of this century. Carrington Clarke and ABC...

Qantas says its fuel bill could be $600 million to $800 million higher than expected because of the ongoing energy crisis - and it plans to reduce capacity to help offset some of those costs. Virgin has also flagged fare changes as it responds to higher costs.  So how badly could this hit travellers in the months ahead - and how is the conflict involving the US, Israel, and Iran affecting the pric...

This time, the US stuck to its deadline. Its navy is now blockading Iran’s ports, further limiting the flow of energy from the crucial Gulf region.     With that supply curbed, there’s been calls for Australia to tap its own reserves of energy to make the country less reliant on foreign oil. But is there oil to tap? And does it make economic sense?  Carrington Clarke and ABC's Chief Business Corre...

After direct talks between the US and Iran concluded with no agreement, Donald Trump has raised the stakes by ordering a blockade of ships that visit Iranian ports. The move has stymied global energy flow and caused oil prices to jump. Again. Meanwhile finance firms are on notice that the latest model from Artificial Intelligence giant Anthropic, Claude Mythos Preview, could threaten their systems...

Donald Trump has announced a US naval blockade of the Strait of Hormuz, while Anthony Albanese prepares to travel to Malaysia and Brunei after his recent trip to Singapore, as Australia looks to shore up its fuel security. Carrington Clarke and Alan Kohler break down what these developments could mean for global energy markets, fuel supply, and the pressures flowing through to Australia in the fir...

More than $400 billion. Millions of members. And a front-row seat to the forces shaping the Australian economy. If you think super is dull, or the people who run it are dull, think again. Paul Schroder runs AustralianSuper, the biggest superannuation fund in the country - and he has plenty to say about where the economy is heading, how geopolitics is reshaping investment, and why Australia’s bigge...

Around the globe investors cheered the ceasefire agreement between the US and Iran, with surging stocks and an oil price plunge.   But, there are already signs this fragile truce isn’t holding. And there are contradictory reports about just how open the crucial Strait of Hormuz really is. So will the market rally wave crash as quickly as it’s crested? And is the energy crisis actually over?  Carri...

It appeared the market was betting on another TACO Tuesday from Donald Trump. And it could be said that he’s delivered. The US President has announced a two-week cease-fire with Iran which involves an opening up of the crucial strait of Hormuz - and raises hopes of a more normal flow of energy around the world. But no matter what the final outcome of this conflict, we’ve seen a dramatic shift in A...

After wild oscillations on Wall Street overnight, time is ticking and global investors are holding their breath as Donald Trump’s latest deadline for Iran is set to expire tomorrow. And while the world remains caught in the grip of the global fuel crisis, investment continues to roll into artificial intelligence as it promises - or threatens - to up-end the economy. Carrington Clarke and ABC's Chi...

Donald Trump has unleashed in a series of extraordinary social media posts, swearing and threatening Iran’s civilian infrastructure if the Strait of Hormuz isn’t reopened.  So are we on the edge of a dangerous escalation in this war, that has already wrought havoc on energy markets? And while time ticks down on Trump’s deadline, buyers seem to be biding their time to purchase property in Australia...