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Live: Wall Street retreats as oil prices continue to rise, ASX set to slip

Live: Wall Street retreats as oil prices continue to rise, ASX set to slip

Oil prices have jumped, putting downward pressure on global stock markets, including the ASX. Follow the day's events and insights from our business reporters on the ABC News live markets blog.

Oil prices jumped 3 per cent to $US120/barrel, a level not seen since early in the US/Iran war.

That has seen risk assets like shares put under pressure, with key US indices all falling on Friday and the ASX set to follow today.

Follow the day's financial news and insights from our specialist business reporters on our live blog.

Disclaimer: this blog is not intended as investment advice.

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Good morning and welcome to another day on the ABC markets and finance blog.

Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.

Wall Street closed lower again on Friday, dragged down by rising oil prices and anxieties about inflation.

Futures trading points to the ASX 200 slipping around 0.5% on opening.

The game's afoot, so let's get blogging.

  • oil
  • asx
  • wall
  • street
  • price
  • market
  • retreat
  • pressure

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