Market Open: ASX 200 continues to rebound on Middle East peace moves and falling oil prices

Hello, and welcome to HotCopper‘s Market Open for Thursday, Week 19, I’m Colin Sandell-Hay

The ASX 200 is forecast to continue to rebound into positive territory with futures indicating a +1.2% rise to 8,900 points following record highs on Wall Street.

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Continuing positive news on a potential US-Iran peace deal saw oil prices dive overnight, with Brent crude down 7.20% to US$101.960 a barrel.

Both the S&P 500 and Nasdaq achieved record closes after the US issued a one-page memorandum of understanding to Iran aimed at a gradual reopening of the Strait of Hormuz.

Meanwhile, S&P Global has reported that 10 ships used the Strait of Hormuz earlier this week after the US military announced “Operation Project Freedom” to guide ships through the critical passageway that has been essentially blocked by Iran for weeks.

With all that positive news, ASX futures are tipped to record a 1.2% gain, continuing yesterday’s strong 1.3% rally.

Locally, in not so positive news, more households experienced financial stress in 2025, with increases in dissaving, cashflow problems and financial exclusion compared with 2020 and 2019.

The ABS found that a quarter of households experienced a cashflow problem in 2025, an increase from 21% in 2020 and 22% in 2019.

At the same time, just over 34% of Australians often felt rushed for time, similar to 33% in 2020, but down from 40% in 2019. 

Now – in forex, the Oz dollar buys $0.723

In commodities, all in the greenback, at the time of going to press

Brent Crude was down 7.20% to $101.960

Iron Ore was up 1.93% to $110.60 in Singapore

Gold was down to $6491.17 per ounce

Natgas futures were down 2.41% to $2.72

ASX stocks to watch

On the ASX market front

Amplitude Energy (ASX: AEL) has been granted a production licence for the Annie gas field project in the Otway Basin off the Victorian coast.

The project could provide the equivalent of more than a third of Victoria’s annual gas use.

Works will start next year to deliver gas from 2028, kicking in at a crucial time for the East Coast gas market.

The project will use existing infrastructure from the Casino-Henry-Netherby gas field.

Aurum Resources (ASX: AUE) has hit thick gold intersections at BDT2 in Cote d’Ivoire;

Accelerate Resources (ASX: AX8) has made a second gold discovery at Balagundi; and

Rox Resources (ASX: RSL) is on target at the Youanmi gold mine main pit with dewatering complete.

That’s HotCopper‘s Market Open, I’m Colin Sandell-Hay – good luck today.

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