Australian Shares Flat; Karoon Energy Restores Production at Brazil Well
Australian shares were flat on Monday after oil prices jumped as the ceasefire between the US and Iran broke down. The S&P/ASX 200 Index was little changed to close at 8,808.50. Brent crude oil futures jumped over 4% to trade around $79 per barrel, increasing inflation risks. Iran claimed that it had closed the Strait of Hormuz. Gold fell past 1% to trade around $4,060 per ounce. On the domestic front, Australian customers have so far spent over AU$7 billion during this year's FIFA World Cup, with spending increases recorded across key fan categories, according to an ANZ analysis. Spending increased in various sectors: takeaway food by 6.6%, cafes and restaurants by 5.5%, bars and hotels by 5.2%, and sporting apparel by 9.3%. In company news, Karoon Energy (ASX:KAR) restored production at the PRA-2 well at its Baúna project in Brazil after reconnecting the umbilical and re-establishing connectivity with the submersible pump. The well came back online on July 6 and is currently producing between 1,000 and 1,200 barrels of oil per day. Ampol (ASX:ALD) secured a cornerstone investment from KKR in its AU$400 million financing transaction. Ampol will use the funds for.
Australian shares were flat on Monday after oil prices jumped as the ceasefire between the US and Iran broke down.
The S&P/ASX 200 Index was little changed to close at 8,808.50.
Brent crude oil futures jumped over 4% to trade around $79 per barrel, increasing inflation risks.
Iran claimed that it had closed the Strait of Hormuz.
Gold fell past 1% to trade around $4,060 per ounce.
On the domestic front, Australian customers have so far spent over AU$7 billion during this year's FIFA World Cup, with spending increases recorded across key fan categories, according to an ANZ analysis.
Spending increased in various sectors: takeaway food by 6.6%, cafes and restaurants by 5.5%, bars and hotels by 5.2%, and sporting apparel by 9.3%.
In company news, Karoon Energy (ASX:KAR) restored production at the PRA-2 well at its Baúna project in Brazil after reconnecting the umbilical and re-establishing connectivity with the submersible pump.
The well came back online on July 6 and is currently producing between 1,000 and 1,200 barrels of oil per day.
Ampol (ASX:ALD) secured a cornerstone investment from KKR in its AU$400 million financing transaction.
Ampol will use the funds for.