ASX to slide as Houthi strikes threaten deeper oil shock

The Australian sharemarket is set to drop on Monday as the entry of Iranian-backed Houthi rebels into the Middle East war threatens to drive up oil prices and interest rates globally.

Iran has effectively shut the Strait of Hormuz, through which one-fifth of global oil supply passes. As a result of the supply disruption, the Brent crude price – the global benchmark for oil – has soared from the pre-war level of around $US70 a barrel to above $US100, fuelling fears of an acceleration in global inflation. Oil hit a four-year peak of $US119.50 this month.

Source: https://www.afr.com/markets/equity-markets/asx-a-to-fall-as-middle-east-war-worsens-20260329-p5zjns