Articles about Barrel

Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflictBusiness live – latest newsThe price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “take the oil in Iran”, sending Asian stock markets tumbling.Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island. Continue reading...

Fuel stocks at same level as when US and Israel launched their war on Iran a month ago, energy minister saysFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe federal government is preparing for scenarios where global oil prices spike above US$120 a barrel, as diesel prices nationwide go past $3 a litre and the prime minister, Anthony Albanese, plans another national cabinet meeting to plan petrol supply.The treasurer, Jim Chalmers, said one option under consideration was expanding ethanol mandates across the country, after Guardian Australia revealed the government was analysing increasing the biofuel’s supply. Continue reading...

Affected communities in Queensland and the NT can apply for an Australian government disaster recovery payment from 2pm SaturdayGet our breaking news email, free app or daily news podcastThousands of people are bracing for Severe Cyclone Narelle as it barrels towards the Northern Territory, with winds of up to 195km/h expected from the dangerous storm as it moves west from far north Queensland.Narelle was downgraded from a category four to a two as it moved through the Gulf of Carpentaria after making landfall across Cape York on Friday, forecasted to hit eastern Top End late Saturday. Continue reading...