Markets slump as oil volatility spikes and inflation fears grow | The Business скачать в хорошем качестве

Markets slump as oil volatility spikes and inflation fears grow | The Business

The Australian share market ended the week near a four-month low. The ASX 200 lost 2.2 per cent for the week finishing at 8,428.4. Since the beginning of March, the ASX 200 is off 8.3 per cent, that equates to more than $250 billion dollars in value wiped off the index so far, according to AMP. Away from equities, it was oil markets that stole investors' focus. Morningstar market strategist Lochlan Halloway says, this week the VIX (volatility index) for oil spiked to levels exceeded only once in nearly two decades, and that was during the COVID panic. At the start of the week, traders were in a frenzy over the effective closure of the Strait of Hormuz. But by Thursday the long term implications of damage to energy infrastructure were in focus with QatarEnergy's CEO declaring that LNG export capacity will now be 17% lower over the next 3-5 years. Lochlan Halloway says this is challenging news for investors to digest. "Supply could be impaired or totally offline for years at some of these facilities and that's a much more difficult thing to grapple with." The Brent crude oil price briefly topped 120 US dollars a barrel this week, before falling back to 107 US dollars on Friday. The spike in oil prices is fanning inflation fears globally and has increased interest rate hike expectations with hawkish commentary from central banks. Lochlan Halloway speaks with Alicia Barry. #ABCBusiness Subscribe: http://ab.co/1svxLVE ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook:   / abcnews.au   Follow ABC NEWS on Instagram:   / abcnews_au   Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia