Live: ASX set to open lower as price of oil surges

The Australian share market is set to open lower in morning trading, following a mixed result on Wall St.

Meanwhile, the price of oil is surging, as US President Donald Trump declared the ceasefire with Iran was over, and launched another wave of strikes on the country.

Follow the day's financial news and insights from our specialist business reporters on our live blog.

Disclaimer: this blog is not intended as investment advice.

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Thu 9 Jul 2026 at 7:32am

Thu 9 Jul 2026 at 7:32am

Market snapshot

By Adelaide Miller

ASX 200 Futures: -0.6% to 8,706 points

Australian dollar: -0.03% to 69.26 US cents

Wall Street: Dow Jones (-1.1%), S&P 500 (-0.3%), Nasdaq Composite (+0.3%)

Europe: FTSE (-1.7%), Stoxx 600 (-1.6%), DAX (-2.2%)

Spot gold: -0.7% to $US4,076/ounce

Oil (Brent crude): +7.3% to $US79.40/barrel

Iron ore: +1.4% to $US99.25/tonne

Bitcoin: +0.02% to $US62,084

Prices current around 7:30am AEST:

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Thu 9 Jul 2026 at 7:28am

Thu 9 Jul 2026 at 7:28am

ASX to open in the red, Telstra secondary problem ongoing

By Adelaide Miller

Good morning, everyone,

I hope you're all doing OK after what was a stressful day for many yesterday when it comes to telecommunications.

Business reporter Adelaide Miller here to guide you through the morning of business, finance and economics news.

To start with, the ASX 200 is set to open lower in morning trading, with Futures pointing down -0.6% to 8,706 points.

According to Telstra's website, the network outage "is almost resolved", as of 6:30am.

The telco is still fixing issues related to a secondary problem.

This was the notification at 9 o'clock last night on Telstra's website.

"While we've restored the issue that caused today's outage, we've identified a secondary issue impacting some calls, including Triple Zero," it read.

"In these cases, when you call Triple Zero you will receive an error message and your phone will try to connect to an alternative mobile network.

"As part of our back-up process, we will complete a welfare check where we detect a failed Triple Zero call.

"We're working urgently to resolve this issue."

The Business Team is gathering information about this secondary problem. As we learn more, we will keep you updated.