The Australian sharemarket has made a bright start to the session as a tentative deal to extend the ceasefire in the war with Iran by 60 days helped lift the market and rein in oil prices.

Global stocks rose to record highs as crude oil fell after officials signalled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows.

Global stocks rose to record highs as crude oil fell after officials signalled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows.

Global stocks rose to record highs as crude oil fell after officials signalled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows.

The Australian sharemarket opened lower after the US military said it carried out “self-defence” strikes in southern Iran, triggering doubts about an imminent end to the war.

The oil price has fallen 7 per cent on hopes the conflict in Iran will end in a peace deal. Follow the day's events and insights from our business reporters on the ABC News live…

The Australian sharemarket declined in early trade after US forces carried out new airstrikes on Iran, with a resolution to the war that began nearly three months ago remaining…

The Australian sharemarket closed sharply lower and oil prices spiked after US forces carried out fresh airstrikes on Iran, with a deal to end the three-month war remaining…

The Australian sharemarket has made a bright start to the session as a tentative deal to extend the ceasefire in the war with Iran by 60 days helped lift the market and rein in…

Wall Street is pushing to more records as companies keep piling up profits while a tentative deal to extend the ceasefire in the war with Iran by 60 days also helped lift the…

The stock index rose a meagre 0.8% for May, bringing to a close a volatile month marked by conflicting reports of progress on a potential deal to extend the U.S.-Iran…