Gulf Tensions Ease: Aussie Shares Soar as Oil Prices Plunge
The Australian stock market has experienced its best session since mid-June, following reports that Iran and the US have halted fighting in the Persian Gulf.
Oil prices plummeted as a result of this development, with no clear indication of when hostilities will resume.
The pause in conflict led to a surge in shares, as investors breathed a sigh of relief at the reduced risk of escalation.