Oil prices have surged to their highest level since May amid rising tensions in the Middle East, prompting expectations of further fuel cost increases of 20-30 cents per litre in the coming weeks. Market volatility has intensified as investors pulled back from stocks and bonds, heightening concerns over economic stability. Adding to financial unease, a proposed $5,000 dividend for U.S. adults—conditional on Republican gains in the November midterms—has raised alarms about fiscal sustainability. The combined pressures are deepening uncertainty in global markets.
Global oil price at its highest since May while investors dump stocks and bonds after Donald Trump’s $5,000 ‘dividend’ promiseFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFuel prices are on track to climb a further 20-30 cents per litre over the coming weeks, after the escalating Middle East conflict pushed the global oil price to its highest since mid-May.As investors dumped stocks and bonds in an increasingly febrile environment, Donald Trump’s promise to give every US adult citizen a US$5,000 “dividend” after the November midterms if Republicans win added to alarm around the parlous state of the country’s finances. Continue reading...
