Australian markets are set to rise this morning, as oil falls on hopes of a diplomatic way out of the war in Iran. Follow the day's events and insights from our business reporters on the ABC News live markets blog.

Oil prices have fallen and Asian stock markets have risen. President Donald Trump has paused military strikes, sparking hopes for a deal to end the conflict. This development…

Asian markets were mixed Tuesday as oil prices eased on hopes of a US-Iran deal, though elevated crude levels capped investor appetite for risk.Energy markets held centre stage…