Join our daily newsletter At The Bell to receive exclusive market insights
At The Bell – The S&P/ASX 200 index is tipped to slide lower this morning with futures pointing down -0.2 per cent to 9,177 points as oil prices rise.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The local opening is expected to reflect what happened on Wall Street overnight where leading indices pulled back slightly from recent records with chances of a US-Iran peace deal appearing to be slipping away.
Oil prices jumped more than five per cent after reports emerged of Iran launching a missile attack on a United Arab Emirates ship.
Reuters had reported that there had been hope Iran was nearing a final pact with Oman in defining new shipping lanes between them through the Strait of Hormuz.
However, it was also revealed that the US must meet other conditions before the strategic waterway is reopened.
Rystad Energy has reported that after the US-Iran conflict closed the Strait of Hormuz overnight in March 2026, 14.5 million bpd of crude were removed from the market.
Even after strategic releases and rerouted trade, the market remains structurally short by about 4.0 million bpd of crude and 3.8 million bpd of refined products versus pre-conflict levels.
On the local news front, the RBA is set to hand down the latest ruling on the interest rate level while more than 25 million people are expected to have finalised their census details.
The Australian Census aims to count every single person and household in the country – projected to be over 25 million people across roughly 10 million households.
The next Australian census after 2026 will take place in August 2031.
Buck and ore
Now – in forex, the Oz dollar is buying US$0.705
Looking at commodities, all in the greenback,
Iron Ore is up 0.11 per cent to $94.55 per tonne
Brent Crude was up 5.06 per cent to $82.136 USD/Bbl
Gold is selling at $4391.34 per ounce
US natgas futures were up 4.08 per cent to $2.7705 per USD/MMBtu
On the local market front:
Safety mobile application specialist Life360 (ASX:360) has released record financial results for the second quarter ended June 30, 2026.
The company achieved its highest-ever total revenue of US$159 million driven by outstanding results in both subscription and advertising revenue;
Macmahon Holdings (ASX:MAH) has been awarded a $406 million underground mining contract at the Snowy River gold mine in New Zealand;
Cosmo Metals (ASX:CMO) has confirmed a broad mineralised zone at Laguna Verde within the Kanowna gold project in WA;
Cooper Metals (ASX:CPM) has obtained encouraging copper and gold samples from the Ardmore North project in Queensland; and
Sun Silver (ASX:SS1) has wrapped up its high-resolution airborne geophysical survey at the Maverick silver project in Nevada.
That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.
Join the discussion. See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
