Despite Wall Street closing for a public holiday, global markets lost ground on Friday on news that the resumption of US- Iran peace talks had stalled over Israel's renewed offensive in Lebanon.Futures trading point to the ASX slipping 0.2% on opening, while markets focus on renewed threats and the whether Iran has closed the Strait of Hormuz again.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.PinnedMon 22 Jun 2026 at 6:51amMon 22 Jun 2026 at 6:51amMarket snapshotBy Stephen LettsASX 200 futures: -0.2% to 8,812 pointsASX 200 (Friday): -0.9% to 8,829 pointsAustralian dollar: flat at 70.11 US centsWall Street: closedEurope (Friday): Dax -0.2%, FTSE -0.4%, Eurostoxx -0.5%Spot gold: -1.2% to $US4,160/ounceOil: Brent futures +0.5% to $US80.38/barrel, WTI futures +1.2% to $U77.54/barrelIron ore (Friday): -0.4% to $US98.85/tonneCopper (LME): -1.2% to $US13,655/tonneBitcoin: +0.7% at $US63,911Prices current at around 7:00am AESTCollapse all postsFilter PostsAll5Key Events2Market snapshot1Energy3Mon 22 Jun 2026 at 8:21amMon 22 Jun 2026 at 8:21amOil prices heading higherBy Stephen LettsOil traders have just logged on for the day and immediately futures prices are heading higher following this morning's collapse of peace talks in Switzerland and the Strait of Hormuz looking like it's closed again to oil shipments.At 8:20am AEST:Brent crude futures: +1.6% to $US81.84/barrelWest Texas Intermediate crude futures: +2.9% to $US78.83/barrelKey EventMon 22 Jun 2026 at 8:13amMon 22 Jun 2026 at 8:13amIs the Strait of Hormuz open or closed?By Stephen LettsIs the Strait open or closed? That's the big question of the morning - the direction of global oil prices is very much dependent on the answer.The answer, according to Windward Maritime, appears to be, having briefly reopened, it is again closed to all shipping bar "dark" Iranian-linked, sanctioned vessels.Windward says the current flow resembles the "late-blockade baseline more than a functioning open strait."This calculation was made before the latest barrage of threats and insults on President Trump's social media page and before the "peace" talks in Switzerland abruptly ended.Key EventMon 22 Jun 2026 at 7:56amMon 22 Jun 2026 at 7:56amASX set to slip as a fragile ceasefire keeps markets on edgeBy Stephen LettsWith US markets closed for the Juneteenth National Independence Day holiday, it would be easy to say nothing much happened on Friday — but that wouldn't be quite right.Looking beyond the shuttered towers of Wall Street, there was global unease about whether the US-Iran ceasefire, which had sparked a rally across the week, would hold after planned peace talks were called off.The global MSCI equities index dipped 0.2% and European markets were generally lower.US futures for Monday's reopening were down around 0.2%, as were ASX 200 futures.Oil futures nudged higher, but that should be weighed against an 8% fall across the week.Tankers had started to sail through the Strait of Hormuz, but that traffic abruptly halted over the weekend."We concede that there will be a number of ships eager to leave the Gulf's warm waters, and we think crude will struggle to find its footing amid a flurry of 'open for business' headlines, and yet we question the durability of the deal," RBC Capital Markets commodities team wrote in a note to clients."In the event that the deal holds … the Hormuz reopening trajectory could resemble something similar to the Red Sea, where shipping traffic remains over 50% below pre-crisis levels despite the Houthis signing a deal in May 2025 to end hostilities."Gold slipped again, chalking up its fifth straight week of losses.Iron ore and copper also lost ground, with a stronger US dollar and the cancelled peace talks weighing on sentiment.Mon 22 Jun 2026 at 6:50amMon 22 Jun 2026 at 6:50amGood morningBy Stephen LettsGood morning and welcome to another day on the ABC markets and finance blog.Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.With Wall Street closed on Friday, the best guide to how things are likely to unfold today are the ASX 200 futures.When trading closed on Saturday morning, the futures were pointing to a 0.2% fall on opening — in keeping with the decline on European markets after the fragility of the ceasefire deal was exposed (again).The collapse of peace talks in Switzerland this morning and on-going threats to close the barely reopened Strait of Hormuz will do little to trading improve sentiment.On the corporate front, Metcash is expected to release its FY 2026 results this morning, but given it was effectively pre-released last month, no ructions are expected.As always, the game's afoot, so let's get blogging.