Saudi state oil company reports jump in profits despite attacks; Australian central bank lifts rates – business live

AI desk brief

Saudi Aramco said quarterly profits jumped despite attacks on its facilities, with Brent up $2.38 to $107.15/bbl (+2.2%) as the war on Iran keeps energy markets tight. The article flags higher oil prices as a reason for further central-bank tightening risk, which is broadly supportive for gold if it feeds persistent inflation and policy uncertainty, but near-term hawkish rates pressure remains a headwind.

The Reserve Bank of Australia raised rates 25bp to 4.85%, its fifth hike this year, though it dropped prior guidance that more tightening was likely and the 6-3 vote suggests policy may be nearing a pause. Updated RBA forecasts still show headline inflation peaking at 4.5% in Q4 before easing back to target in 2H next year, with unemployment seen rising above 5%.