ASX set to slip, oil at 3-month low on reports US to ease Iran sanctions
ABC News Australia reports the ASX is poised to open lower after a tech-led decline on Wall Street. Oil prices have sunk to a three-month low on reports the US will allow Iran to resume oil sales. This is not investment advice.
According to the ABC News Australia live blog, the ASX is set to open weaker, tracking declines in technology stocks on Wall Street. NASDAQ and the S&P 500 slipped overnight on tech selling, while the Dow Jones closed at a fresh record.
Oil prices fell to a three-month low on reports that the United States will ease its sanctions framework on Iran, allowing Tehran to sell crude to global markets again. Brent slipped below US$80 a barrel during the session, weighing on regional energy producers.
Locally, energy and mining names face selling pressure into the open, while major banks remain sensitive to incoming signals from the US Federal Reserve. The Australian dollar softened against the greenback. Investors will watch RBA commentary in coming weeks for fresh local cues on rates. This is not investment advice.
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