IREN (IREN US)

10/09/2025

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Morning report 16/03/2026

Macro Monday: Gulf War sustains $US100 oil, weighing on stocks

The worst oil supply disruption in history shows little sign of easing, keeping crude elevated since the Iran conflict began as Trump and Iran’s new leader signal little appetite for de-escalation. Washington has allowed more sanctioned Russian crude to flow in an attempt to cap prices, but markets are increasingly concerned that Trump & Co may have bitten off more than they can chew, particularly with US mid-term elections looming in November.

Weekend report 14/03/2026

Weekend Q&A: The US-Iran War continues to take its toll on global markets

The ASX200 ended a choppy week down 2.6%, with the Middle East conflict weighing on equities. Energy was the only sector to finish higher, while rate-sensitive tech (-7%) and real estate (-5%) dragged on the index as surging oil prices reignited inflation fears. The influential materials sector also endured a tough week, retreating -4.7% as weakness in copper and gold stocks offset a bounce in iron ore names. However, the market's largest stock, BHP, weighed heavily on the index, falling 5.7% over the week as a Chinese ban on its iron ore caused increasing angst. The moves on Friday night in the US point to more of the same next week, with gold and copper stocks coming under renewed pressure.