Australian Shares to Rise as US-Iran Tensions Ease

The Australian sharemarket is expected to rise on Monday, fueled by easing tensions in the Middle East. The US has paused its strikes against Iran for nearly two weeks, and Tehran has signaled it will refrain from retaliatory attacks.

Oil prices have retreated ahead of their close for trade on Saturday, with Brent crude falling 3.9% to $96.78 per barrel. This decline comes after the international standard rose above $100 earlier in the week.

The US sharemarket experienced a mixed session on Friday, with the S&P 500 barely budging and the Dow Jones Industrial Average rising 0.5%. The Nasdaq fell 0.6%, weighed down by sharp losses from big tech stocks like Micron Technology and Broadcom.