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Oil prices have eased and hopes are climbing that the United States and Iran may try again on talks to end their war.

ASX edges higher as Virgin soars weathering the fuel shock, oil stocks fall

The Australian sharemarket notched up another small gain on Wednesday amid optimism the US and Iran will meet for a second round of talks to end their war.

  • Staff writers

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Wall Street’s moves were much more modest overall than the extreme swings that have hit financial markets since the war began in late February.

ASX bounces back on renewed Iran talk hopes; BHP jumps on China concessions

The Australian sharemarket advanced as Donald Trump raised hopes for an Iran deal, and BHP gained on reports of progress in its months-long iron ore tussle with China.

  • Staff writers
Iran says it has closed the Strait of Hormuz to shipping.

ASX edges higher as fragile ceasefire tests investor optimism

The sharemarket closed in the green, helped by a jump in energy stocks as the ceasefire between the US and Iran hangs in the balance.

  • Adrian Black
Trump has threatened that a “whole civilisation will die tonight, never to be brought back again” if Iran does not meet his deadline to open the Strait of Hormuz.

ASX soars in $80 billion rally as investors cheer ceasefire

Markets around the region rose sharply on Wednesday and the Australian dollar strengthened above US70¢, as investors welcomed the prospect of lower oil prices.

  • Simon Johanson and Clancy Yeates
Donald Trump speaks to reporters as US Defence Secretary Pete Hegseth listens while travelling aboard Air Force One.

Trump is ready to back down – but should we believe him?

Markets responded enthusiastically to signals from the US president that the end of the war is nigh, but they have been burnt before.

  • Stephen Bartholomeusz
The damage to the US – and by extension the global – economy since Donald Trump returned to the White House has been largely self-inflicted.

Trump is floundering as he looks to chicken out

Investors were betting on another of Donald Trump’s TACO moments with the Iran war, but it isn’t going to plan.

  • Stephen Bartholomeusz
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President Donald Trump arrives on Air Force One, at Joint Base Andrews.

The war may be over soon, but its damage will stay with us for years to come

The global economy, faced with higher energy costs and interrupted energy supply, has limited flexibility to blunt the aftershocks of the Iran war.

  • Stephen Bartholomeusz
Trump is grappling with a growing mountain of US national debt.

Trump’s $56 trillion problem is spiralling out of control

When he first became president in 2017, Donald Trump promised to eliminate US government debt within eight years. Since that promise was made, the debt has almost doubled.

  • Stephen Bartholomeusz
Markets are down amid concerns over the Iran war - but it could be a lot more drastic.

Markets are down on Iran war, but the slump could be a lot worse

Investors’ relatively calm response to the attack on Iran will be short-lived if the hostilities drag on.

  • Stephen Bartholomeusz
Economic pressures have increased on Iran since Donald Trump returned to office in 2025.

GFC 2.0? Trump is taking a big risk with America’s banks

The Donald Trump administration is close to finalising a new set of rules for its banks as it looks to turbocharge US economic growth. The consequences could be damaging.

  • Stephen Bartholomeusz