Aussie shares have tumbled and oil is surging, after US President Donald Trump threatened to send Iran "back to the Stone Ages" while declaring his military campaign nearly complete.
Wall Street ended higher on Wednesday, with strong gains in Alphabet and other heavyweights, after US President Donald Trump suggested an end to the Middle East conflict could be close.
Australia's share market has bounced sharply on optimism the US will wind down its military campaign against Iran, but doubts remain and aftershocks from the conflict are likely to linger.
US stocks surged to their best day since last spring, and the Dow Jones Industrial Average soared 1,125 points on Tuesday as doubt swung back to hope on Wall Street about a possible end to the war with Iran.
The Australian share market has closed higher following reports US President Donald Trump is willing to wind up its military campaign against Iran without first reopening the Strait of Hormuz.
The Australian share market has fallen again after oil rose to near a four-year high, amid fears another strategic Middle East waterway could become an energy choke point.
US stocks tumbled on Friday, with each of the three major US indexes closing at their lowest levels in over seven months and the Dow confirming it was in correction territory as the month-long Middle East war continued to suppress risk appetite.
Australia's share market has snapped a three week losing streak, but uncertainty hangs over investor sentiment as an oil supply route remains effectively blocked.
Australia's government insists it still has not received any direct requests from the United States for military aid in its war with Iran, after a public attack from President Donald Trump.
Australia's share market has handed back its early gains with interest as investors weigh clashing statements from the US and Iran on a potential path to de-escalation.
The Iran war will hurt consumers by pushing up prices and slowing the economy but the Reserve Bank must act to contain inflation expectations, an official says.
Wall Street's main indexes have closed higher as oil prices fell while Iran reviewed a US proposal to end the war in the Middle East, feeding investor hopes for de-escalation in the fourth week.
Wall Street indexes lost ground in Tuesday's volatile session as investors swayed between fears of rising oil prices and hopes for a resolution to the US-Israeli war on Iran.
An early bounce for Australian shares has faded, as hopes of Middle East de-escalation crumbled on reports US Gulf allies were taking steps to enter the conflict.
Diesel standards have been lowered to help suppliers bring more fuel into the domestic market as hundreds of service stations across the country run dry, including six in WA.
A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.
Australia's share market has trimmed some losses but still ended at its lowest level since May 2025, as the Middle East conflict continues to wreak havoc on energy prices.
A snap assessment of Australia's grocery supply chains will investigate how the Middle East war is impacting the way food is grown and transported around the nation.
The prime minister has been phoning his global counterparts to try and shore up Australia's fuel stocks over the coming weeks and months, as the Middle East war sends shockwaves through global supply chains.
