Oil prices hit 7-year high
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 5 October 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/bc24e812-a089-43e1-bc7a-289916c97229
US oil prices rose to the highest level in seven years on Monday after Opec and its allies declined to accelerate plans to increase crude production, and shares of big tech companies slid on Monday, with stocks such as Apple, Microsoft, Facebook and Amazon dragging the S&P 500 to its lowest close since late July. Plus, the former Facebook employee who leaked explosive internal documents will testify before US lawmakers today and is expected to urge members of Congress to regulate the social media platform much more tightly.
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https://www.ft.com/content/1fba7824-ad14-46bd-a379-404e6b18abc0
US oil hits 7-year high after Opec+ resists calls to accelerate production
https://www.ft.com/content/ccd6f6d6-6045-4f0c-8638-9b0e01fee1c5
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https://www.ft.com/content/2dbf79af-6dc5-4c98-90f0-af396c13e3ad
Warren calls on SEC to probe trading by Federal Reserve officials - with Colby Smith
https://www.ft.com/content/9111b7c5-53c5-4d6f-9b6d-ca3533057908
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times, today is Tuesday, October 5th, |
| 0:03.7 | and this is your FT News briefing. |
| 0:08.8 | Oil prices keep going up. OPEC added more fuel to that fire yesterday, |
| 0:14.0 | and a U.S. Senator wants regulators to probe federal reserve officials' personal |
| 0:18.7 | trading activity. Plus, Facebook's no good, very bad month keeps getting worse. |
| 0:23.9 | Today, whistleblower will appear before Congress to talk about what she experienced |
| 0:28.0 | when she was inside the company. |
| 0:29.9 | The thing I saw on Facebook over and over again was there were conflicts of interest |
| 0:34.2 | between what was good for the public and what was good for Facebook, |
| 0:37.9 | and Facebook over and over again shows to optimize for its own interests. |
| 0:41.7 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:51.7 | U.S. oil prices rose to their highest level in seven years after OPEC |
| 0:56.0 | and its allies said they would not speed up plans to increase crude oil production. |
| 1:00.8 | The decision comes despite a global energy crunch and despite urging from the White House. |
| 1:05.9 | The group is basically sticking with a plan they made in the summer to increase production |
| 1:10.4 | only gradually, and they haven't said much about why they came to this decision. |
| 1:14.6 | Here's the FT's energy editor, David Cheppard. |
| 1:17.7 | Normally, after an Olympic meeting, the Saudi oil minister, Prince Abdulaziz, |
| 1:22.0 | bin Salaman, would normally quite enjoy having a press conference, having an opportunity to |
| 1:27.0 | talk with the press, explain their thinking, and see what's going on. |
| 1:30.6 | For the last two months, he's avoided doing this, but people are saying in the background |
| 1:35.6 | that what they believe is going on is A, they don't think that oil prices risen as much |
... |
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