The energy sector led a rout on the Australian Securities Exchange, falling 1.4%, with all sectors trading in the red.
This came after a rise in monthly retail sales of 0.8% month on month in November 2024, leading to concerns that this could put pressure on the Reserve Bank of Australia to extend the timeline for interest rate cuts.
Omega Oil & Gas (ASX:OMA) said that data analysis at its Canyon Gas Field project in Queensland showed a higher reservoir pressure of 0.8 pounds per square inch per foot and lower geo-mechanical stress, boosting confidence in a multi-trillion cubic feet, resource development across its acreage.
Meanwhile, the consumer staples sector tumbled 1.2%, and the industrials sector slid 1.2%.
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