ASX slips, Iran plans to ban US and Israel from Strait of Hormuz | Finance Report | ABC NEWS
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The Australian share market has fallen from its record high, though it is still up more than 3% for the week. Oil prices surged again after Iran released draft plans to ban US and Israeli ships from transiting the Strait of Hormuz. Effectively, Iran's stance contradicts claims from US Treasury Secretary Scott Bessent earlier this week that a deal to reopen the strait was imminent. Presented by David Chau. #ABCBusiness Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-08-07/asx-markets-business-live-news-august-7-2026/106774136 Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia
Tags: Australia, abc, abc news, news, ASX, Iran, US, Israel, Strait of Hormuz, Finance Report, Oil, Scott Bessent, David Chau
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