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Live: ASX set to fall as oil tops $US100

Live: ASX set to fall as oil tops $US100
ABC Australia Thursday 23 July 2026, 21:27 UTC By Adelaide Miller and Lin Lin 2 min read
Key Points

live ASX to fall as oil prices hit $US100 a barrel for first time since May The ASX is set to fall and Brent crude has topped $US100 a barrel, stoking fresh inflation worries. The oil price surge sent Wall Street lower, with renewed doubts about whether massive AI spending would deliver returns adding to the sell-off. The S&P 500 dropped 1.2 per cent while the Nasdaq fell by 2.15 per cent.

live ASX to fall as oil prices hit $US100 a barrel for first time since May The ASX is set to fall and Brent crude has topped $US100 a barrel, stoking fresh inflation worries. The oil price surge sent Wall Street lower, with renewed doubts about whether massive AI spending would deliver returns adding to the sell-off. The S&P 500 dropped 1.2 per cent while the Nasdaq fell by 2.15 per cent. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice. Submit a comment or question Live updates New: Filters Choose what information you see below by using filters Key Event Fri 24 Jul 2026 at 7:22am ASX set to fall as brent crude tops $US100 Good morning, and welcome to the ABC's business and finance blog! Lin from the business team here to take you through this Friday morning. It's was quite a session overnight. Brent crude futures jumped 7% and hit $US100 dollars again as the escalating conflict in the Middle East renewed fears over global oil supplies. Prices surged after Houthi rebels, a militant extremist movement based in Yemen, attacked oil tankers in the Red Sea. The surge in oil prices prompted worries about inflation days before the next US Federal Reserve meeting. Higher bond yields are pushing up borrowing costs, with the 10 year Treasury yield at its highest in more than a year. Oil prices put pressure on stocks, as well as earnings from tech giants Google and Tesla stoked fears about Big Tech's enormous AI spending. The S&P 500 dropped 1.2% while the Nasdaq fell by 2.15%. That just some of the top lines this morning, plenty more to cover. I'll be back with more updates soon. Loading [Image text:] STOCK ADIOPHANM
ASX (ORG) Brent (PERSON) AI (ORG) Nasdaq (ORG) Key Event (EVENT) ABC (ORG) Lin (PERSON) the Middle East (LOCATION) Houthi (ORG) Yemen (LOCATION) the Red Sea (LOCATION) US Federal Reserve (ORG) Treasury (ORG) Google (ORG) Tesla (ORG)
Originally published by ABC Australia Read original →

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