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Speaker 1: Welcome to Beer and Greed.

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Speaker 2: Afternoon report for Friday, the sixth March twenty twenty six.

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Speaker 1: Little different today.

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Speaker 2: Michael Thompson and I Sean Alma are at Albert Park

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Speaker 2: in Melbourne watching the practice rounds of the Grand Prix.

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Speaker 2: Story number one markets well the Aussie market. The ASX

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Speaker 2: two hundred ended up down one percent today, taking the

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Speaker 2: four for the week to three point eight percent. That

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Speaker 2: pretty much wipes out everything that had gained in February.

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Speaker 1: In fact, today's four was his ord.

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Speaker 2: The weekly four was the biggest decline since April when

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Speaker 2: we had those Liberation Day tariffs. Today it was the

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Speaker 2: mining stocks, and particularly the big miners got dumped. BHP

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Speaker 2: was down four point two percent, Rio Tender three point

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Speaker 2: six percent.

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Speaker 1: Fortescue was off a little less than one percent.

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Speaker 2: Basically, China's state backed buyer urged traders to stop purchasing

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Speaker 2: new BHP cargoes.

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Speaker 1: That sent its share price down.

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Speaker 3: All right on the story number two now, Sean and

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Speaker 3: the Consumer Watchdog has warned petrol retailers that it will

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Speaker 3: closely monitor fuel prices as markets react to the escalating

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Speaker 3: conflict involving Iran. The Australian Competition and Consumer Commission says

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Speaker 3: it has written to major fuel companies are mid concerns

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Speaker 3: that some stations may actually be using the geopolitical crisis

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Speaker 3: as cover to lift prices prematurely. Global oil benchmarks have

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Speaker 3: jumped about fifteen percent since the conflicts began. We've been

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Speaker 3: talking about that a bit on the show, but experts

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Speaker 3: say that it typically takes seven to ten days for

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Speaker 3: higher crude costs to actually flow through to Australian petrol pumps.

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Speaker 3: The NRMA says many stations in Sydney and in Melbourne

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Speaker 3: have already lifted prices five to ten cents above expected

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Speaker 3: cycle peaks, with some charging more than two dollars twenty

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Speaker 3: a liter. The HBLEC says misleading explanations for price increases

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Speaker 3: could breach consumer law.

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Speaker 2: Story number three Australia's because gas producers are cashing in

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Speaker 2: on the conflict in the Middle East after the suspension

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Speaker 2: of Katarial and G production disrupted global supply. Santos has

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Speaker 2: reportedly sold a single cargo of RNNG for about twenty

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Speaker 2: five US dollars per million British thermal units.

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Speaker 1: How much is that on? Was more than double last year.

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Speaker 2: Last week's benchmark price based on typical cargo volumes. That

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Speaker 2: means it's about seventy million dollars more than it would

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Speaker 2: have fetched before the latest escalation in the Middle East.

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Speaker 1: That's all according to the fin review.

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Speaker 2: The spy highlights how quickly jeopolitical tensions can ripple through

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Speaker 2: global energy markets, sending prices and profits for exports like

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Speaker 2: Santos sharply higher.

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Speaker 3: Story number four, and of course, the source of those

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Speaker 3: geopolitical tensions. The war in the Middle East has entered

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Speaker 3: at seventh day now, with fight fighting intensifying across several fronts.

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Speaker 3: Israel has repeatedly struck Hesbala strongholds in southern Bay Route

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Speaker 3: as residents attempt to flee the city, while Bahrain has

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Speaker 3: reportedly been hit by Iranian missile strikes. International leaders, including

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Speaker 3: France's President Emmanuel Macron, are urging restraint, calling for Lebanon and.

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Speaker 1: Other Gulf states to stay out of the conflict.

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Speaker 3: The US Defense Secretary says Arraini and missile launchers have

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Speaker 3: dropped about ninety percent, and more American combat forces.

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Speaker 1: Are being deployed.

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Speaker 3: President Donald Trump says the US is quote far ahead

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Speaker 3: of schedule, as the first commercial flights from the Middle

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Speaker 3: East to begin landing in Australia.

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Speaker 1: Finaley story number five some good news.

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Speaker 2: Billionaire James Packer is set to marry for the third

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Speaker 2: time after propose After proposing to New York socialite and

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Speaker 2: model Kylie Lim. It will be Packer's third marriage but

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Speaker 2: fifth engagement, who was previously engaged to singer Mariah Carey

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Speaker 2: and Australian model Kate Fisher. Packer was married to Jodie

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Speaker 2: Meeres in nineteen ninety nine and later to Erica Baxter

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Speaker 2: from twenty seven to twenty thirteen. He and backs to

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Speaker 2: have three children. Pack has previously said Lim helped them

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Speaker 2: through personal struggles. Don't think there's a wedding date set yet.

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Speaker 2: Good luck to them both. That's it The Afternoon Report

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Speaker 2: for Friday, the sixth of March twenty twenty six from

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Speaker 2: Albert Park here in Melbourne. Make sure you're following the

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Speaker 2: podcast in headlong to few Agreed dot Com Today you

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Speaker 2: to sign up for our.

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Speaker 1: Free daily newsletter. I'm Sean Elmer. Enjoy reve