Australian Shares Drop as US Vows New Oil Blockade

Australian shares drop as US vows new oil blockade

The ASX dropped 0.3 per cent and oil prices jumped back above $US100 a barrel after Donald Trump threatened to impose a new blockade on the Strait of Hormuz.

New Defence chief named; ASX falls as oil soars; Will Trump’s naval blockade work?

Read everything that’s happened in the news so far today.

Lunch Wrap: ASX flips as Trump threatens naval blockade, Telix bags a big one

US naval blockade of Hormuz flips the market mood Energy wins while tech gets dumped Telix lands billion dollar biotech deal   The S&P/ASX 200 started the day up about 0.7%, then flipped hard and was sitting roughly 0.5% lower by lunchtime in Sydney. Just last week, the index finished 4.4% higher after the ceasefire was announced, but it turns out the rally had about as much staying power as a New Year’s resolution. Because over the weekend, thi…

ASX Tumbles Amid Oil Surge, Key Stocks Downgraded

The Australian sharemarket recorded a noticeable downturn near noon AEST today, as global oil prices surged significantly. This rise in oil costs was directly attributed to escalating geopolitical tensions, specifically following reports of US plans for a cut-off in the Strait of Hormuz after peace talks failed. The prospect of a naval blockade in the critical shipping lane for crude oil caused widespread market jitters, pushing energy prices up…