ASX today – Rising Middle East tensions are putting pressure on world markets with the ASX forecast to open lower this morning.
Oil hit a recent high after the US military struck three Iranian oil tankers following attempted attacks on US warships in the Persian Gulf region.
Brent Crude was up 0.69 per cent to $96.944 per barrel this morning.
Wall Street markets were down on a jump in oil prices towards US$100 per barrel, rising Federal Reserve rate policy concerns and tariff friction leading to uncertainty.
The SPX was down 0.38 per cent to 7,718.60 points while the Dow Jones also fell 0.51 per cent to 53,414.25 and Nasdaq dropped 0.29 per cent to 26,506.99.
Meanwhile, the Data Centre boom is driving structural LNG demand in Southeast Asia, according to Wood Mackenzie.
The hyperscale expansion will drive 16% annual LNG demand growth in Southeast Asia through 2035, while India’s renewables-dominated grid shuts gas out entirely
The hyperscale data centre boom sweeping Asia is generating materially divergent outcomes for LNG demand across the region, with Southeast Asia emerging as a compelling new demand driver while South Asia remains structurally out of reach for gas, according to new research from Wood Mackenzie.
On the market news front:
Daly Resources (ASX: DLY) kicks off a geochem survey ahead of maiden drilling at Batten;
Prodigy Gold (ASX: PRX) confirms high-grade gold results at Tanami North;
Hot Chili (ASX: HCH) extends enrichment zone at La Verde;
Caspin Resources (ASX: CPN) discovers a new high-grade tin and tungsten prospect at Bygoo; and
West Coast Silver (ASX: WCE) wraps up $6.0 million placement.
Buck and ore
Now – in forex, the Oz dollar is buying US$0.721
Looking at commodities, all in the greenback,
Iron Ore was up 0.15 per cent to $99.57 per tonne in Singapore today,
Brent Crude was up 0.69 per cent to $96.944 per barrel,
Gold was selling at $4404.98,
US natgas futures were down 0.46 per cent to $2.9612 per gigajoule.
That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.
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