Commodities
Australian Sharemarket Braces for Higher Energy Prices Amid US-Iran Tensions
The Australian sharemarket is on edge as tensions between the US and Iran escalate into military strikes. The latest developments have investors bracing for higher energy prices, which could drag down the market.
The US launched strikes against three Iranian crude oil tankers over the weekend in retaliation for the Islamic Revolutionary Guard Corps attacking two US Navy warships with ballistic missiles.
This latest escalation has sparked concerns about a potential increase in global energy prices. With no end to the conflict in sight, investors are growing increasingly nervous.