Futures indicate the ASX will open 0.2 per cent lower; traders brace for oil spike after Iran claims Hormuz closure. Follow live updates here.

A sharp drop in crude prices has buoyed equity markets, but fears grow of a fresh spike as doubts emerge over a US-Iran peace deal amid clashes in Lebanon.

The Australian sharemarket is set for an unsteady start to the week as US President Donald Trump continued to threaten Iran even as talks began in Switzerland between his vice…