ASX futures point to 0.9% drop as Brent jumps 7.5% and WTI tops US$100
AI Market Summary
Escalating US-Iran tensions and intensified attacks on shipping near key chokepoints have driven Brent up 7.5% and pushed WTI above $100, raising the risk of a sustained energy supply shock. Higher oil is reinforcing inflation concerns as US 10-year yields jump to 4.96%, tightening financial conditions and pressuring equities; US indices fell and ASX futures indicate a weaker open, with the AUD also softer.
Impact level
● High
Affected assets
NCCO1OILWTI2USD/USDT-3.33%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▼ Bearish
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Brent crude surged 7.5% and WTI moved above US$100, after a sharp rise in attacks on Red Sea shipping intensified fears of supply disruptions. The moves, alongside the US 10year yield rising to 4.96%, revived investor concerns about inflation and pushed major Wall Street indexes lower. Australian shares are expected to open 0.9% lower, while the Australian dollar slipped to 71.5 US cents.
