Rio Tinto Rises with Resources Rally as Oil Prices Fall

Rio Tinto's shares rose by about 1% to AUD 161.65 on July 27, 2026, as falling oil prices triggered a broader resources rally.

The decline in energy costs could lead to lower diesel and freight expenses for miners, but Rio Tinto's earnings are more directly influenced by iron ore, copper, and aluminium prices.

In the first half of 2026, the company reported a 3% year-on-year increase in copper-equivalent production. Second-quarter global iron ore sales reached 89 million tonnes, up 5%, while Pilbara sales rose 7%. Rio Tinto's Oyu Tolgoi delivered a 31% increase in first-half copper production.