- Oil prices jumped after strikes on refineries and pipelines in both Russia and Saudi Arabia further stressed supplies.
- US crude oil stockpiles posted a moderate draw.
- South African consumer sentiment rose to -13 in Q3 from -19 in Q2, but is expected to remain subdued as soaring oil prices from the Iran war and higher interest rates strain household finances.
Quotes
“Oil prices shot up as strikes on refineries and pipelines in both Russia and Saudi Arabia further stressed supplies.”
“U.S. Crude Oil Stockpiles Post Moderate Draw WSJ”
“South African consumer confidence rebounded in the third quarter, but is expected to remain subdued as household finances come under strain from soaring oil prices triggered by the Iran war and higher interest rates.”