Crude Oil ($US/barrel)

24/06/2025

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Afternoon report 31/03/2026

The Match Out: ASX gives back gains late as Trump’s Iran comments lose their shine

It was a story of two tales today as the ASX whipsawed from negative to positive territory at midday, before giving back most of the gains rapidly into the close. Early weakness was shaken off as the market reacted to reports that US President Donald Trump may be prepared to wind down the Iran war even if the Strait of Hormuz remains largely closed.

Morning report 31/03/2026

What Matters Today: Revisiting the energy sector as the War enters its fifth week

The ASX200 recovered almost two-thirds of Monday’s early losses to close down 0.65%, with underlying buying evident across much of the market, even as rising geopolitical tensions in the Middle East pushed oil prices to near four-year highs. However, this strength was offset by pronounced weakness in the influential banking sector, with the “Big Four” subtracting more than 55 points from the index and driving the majority of the day’s decline.