ASX set to rise, oil falls on optimism over Hormuz deal

ASX advances, oil dives on hopes of US-Iran deal

ASX 200 gained 0.4% to 8,692 Monday as oil dropped below $95/barrel on White House claims of imminent US-Iran deal progress, lifting miners, airlines (~6%), and IT stocks 1%. Geopolitical macro signals continue to drive sector rotations: energy under pressure, risk-on sentiment back—budget owners with commodity or travel exposure should watch deal confirmation before repositioning.