FEAR & GREED | Business News Afternoon Report | ASX slumps, wipes Feb gains
5 snips
Mar 6, 2026 Markets roundup with ASX200 losses and the biggest weekly slide since April. Heavy selling in major miners tied to China buying reports. Fuel pricing scrutiny as regulators watch petrol hikes and pump prices spike. Santos capitalises on a sharp LNG price jump. Escalating Middle East conflict and international responses. A brief item on James Packer’s recent engagement news.
AI Snips
Chapters
Transcript
Episode notes
Miners Trigger Big Weekly ASX Slide
- The ASX 200 fell 1% on the day and 3.8% for the week, erasing February gains.
- Major miners drove the drop with BHP down 4.2% and Rio Tinto down 3.6% after reports China urged traders to stop buying new BHP cargos.
Watch Fuel Prices And Expect A Pump Lag
- The ACCC warned petrol retailers it will monitor fuel prices and may act if stations use the Middle East crisis to lift prices prematurely.
- Expect higher wholesale oil to hit pumps in 7–10 days, despite some stations already charging 5–10 cents extra.
LNG Prices Spike Benefits Australian Exporters
- Australian LNG exporters like Santos are profiting after Qatari output suspension pushed spot prices sharply higher.
- Santos reportedly sold one cargo at about US$25/MMBtu, roughly double last week's benchmark, worth ~$70m extra per cargo.