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Commodities

Australia's ASX200 Tumbles Amid Escalating Middle East Tensions

Guavy AI Editorial Team
Instruments
Oil
Share

Australian shares declined on Monday due to renewed tensions in the Middle East and concerns about oil supplies.

The S&P/ASX 200 index dropped 0.3% to 8,705.40 by 0018 GMT, following a flat close on Friday.

The market was weighed down by heavyweight banks and miners, which were hit by the escalating conflict between Iran and the US.

Oil prices eased slightly as hopes for a recovery in shipments from Saudi Arabia offset news of a Houthi attack on Riyadh.

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