ASX set to rise, oil falls as optimism on Iran deal grows
Global stocks have reached record highs as crude oil prices fell, driven by optimism surrounding a potential US-Iran deal to reopen the Strait of Hormuz. The Australian sharemarket is expected to rise, with futures indicating a modest increase at the open. This positive sentiment follows weeks of stalled negotiations between the US and Iran, with investors hopeful for a resolution that could ease Middle East tensions.
- ▪Global stocks rose to record highs as crude oil fell.
- ▪Futures contracts on the S&P 500 climbed 1 percent, while those on the Nasdaq 100 were up 1.4 percent.
- ▪The Australian sharemarket is set to advance, with futures pointing to a rise of 20 points at the open.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.