Oil prices have dropped again as investors hope for peace in the Middle East and an end to the global energy shock. Follow the day's events and insights as they happen with our business reporters on the ABC News live markets blog.

Ten of the 11 sectors closer higher after CPI slows in April; ASX Ltd tumbles to 10-year low; Global stocks rally on chip stocks; AustralianSuper names next CIO. Follow live.

The Australian share market is likely to start its day relatively flat after Iran accused the United States of violating their fragile ceasefire and warned of retaliation. The key…