Thursday: Brent crude up to nearly US$97/bbl

Oil prices surged again overnight to new 10-month highs of almost US$97/bbl after US oil inventories fell to their lowest levels in over a year. US bond yields rose again and US stocks fell more after strong US durable goods orders. In our bonus deep-dive interview, ANZ’s Head of Food, Beverage and Agri-Insight Michael Whitehead explains why sheep prices in Australia are slumping under $10 per head. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/