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ASX falls as oil hits new wartime high; Woolies slumps on inflation warning

The Sydney Morning Herald·Staff writers·about 1 month ago
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Staff writers Updated April 30, 2026 — 3:18pm , first published April 30, 2026 — 5:15am The Australian sharemarket widened its losses in afternoon trade as Brent oil soared to a wartime high after a report that US President Donald Trump is set to receive a briefing on new military options for action in Iran, signalling the potential for fresh escalation in the Middle East. The S&P/ASX was down 42.4 points, or 0.5 per cent, at 8644.60 at 3.14pm AEST, putting the local bourse on track for its eighth straight day of declines. Grocery giant Woolworths was among the session’s biggest losers after the nation’s largest supermarket chain warned of rising inflation pressures because of the war on Iran. The Australian dollar was flat at US71.18¢ after local inflation figures – while not as bad as feared – came in close to a three-year high on Wednesday and bolstered bets for further rate hikes by the Reserve Bank. The ASX fell 0.3 per cent on Wednesday.…

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