Oil prices are not a barrel of fun
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 20 September 2023
⏱️ 14 minutes
🧾️ Download transcript
Summary
Shares in grocery delivery group Instacart jumped more than 10 per cent on their first day of trading, oil prices climbed above $95 a barrel for the first time in 2023, and Canadian prime minister Justin Trudeau sparked fury in India when he said authorities were investigating whether “agents” of New Delhi were behind the June killing of a prominent Sikh activist in a Vancouver suburb.
Mentioned in this podcast:
Instacart shares close up 12% after public market debut
India angered by Justin Trudeau’s claims linking New Delhi to Sikh activist’s death
Oil price exceeds $95 a barrel on fears of supply shortfall
Tech Tonic podcast: Can AI help us talk to animals?
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Lucy Snell, Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:12.2 | Good morning from the Financial Times. Today is Wednesday, September 20th. |
| 0:15.8 | This is your FT News Briefing. Instacart had a solid debut on the public market |
| 0:21.8 | and oil prices reached $95 a barrel. Plus India and Canada's relationship |
| 0:27.6 | hit a really rough patch this week. Any involvement |
| 0:31.6 | of a foreign government in the killing of a Canadian citizen on Canadian |
| 0:36.6 | soil is an unacceptable violation of our sovereignty. |
| 0:42.0 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:57.6 | Instacart listed on the NASDAQ yesterday and shares won up 40% shortly after trading. |
| 1:08.2 | But things cooled down after that. Chairs ended the day up more than 10% |
| 1:12.7 | so still high but significantly lower than the initial pop. |
| 1:17.2 | This is less than a week after the chip designer arms IPO. |
| 1:20.7 | That stock rose 25% on its first day of trading. |
| 1:24.4 | Next up is Clay Vio. The market automation company is expected to disclose its IPO pricing |
| 1:30.0 | on Thursday and raise more than $500 million dollars. |
| 1:40.9 | Oil prices are on a roll. Brent Crude hit $95 a barrel yesterday |
| 1:45.7 | and West Texas Intermediate rose above $90 last week. |
| 1:50.2 | Here to talk to us about this is the FTZ US Energy Editor, Jamie Smith. He was most recently |
| 1:55.3 | our US pharmaceuticals correspondent. Congrats on the new gig, Jamie. |
| 1:59.4 | Oh, thanks Mark. Yeah, great to be here. |
| 2:01.6 | So Jamie, what is causing oil prices to rise so rapidly? |
... |
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