Wednesday: Oil up 3% after LNG tanker hit

Wednesday: Oil up 3% after LNG tanker hit

July 7, 2026 · 10 min

About this episode

This episode discusses the rise in oil prices following incidents in the Persian Gulf and features an interview with ANZ Economist Sophia Angala on Australia's economic growth and housing market challenges.

Oil prices rise 3% after two ships are hit in the Persian Gulf, including an LNG tanker at risk of exploding. Japanese real wages keep rising, Taiwan’s inflation is above forecasts, and Australian consumer confidence falls. In our deep-dive interview, ANZ Economist Sophia Angala unravels the growth stories of Australia’s states in the first quarter, including how housing market weakness is a factor in Sydney and Melbourne for New South Wales and Victoria respectively. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

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