BUSINESS

Australians are grappling with sharply higher fuel costs in early April 2026 as the U.S.-Iran war disrupts global oil supplies, pushing wholesale prices higher and triggering a domestic fuel supply crunch despite government intervention.

Australia is not fighting in the U.S.-led war against Iran, yet the conflict is already exacting a significant economic toll on the nation through surging fuel prices, inflation pressures and potential recession risks, according to government modeling and independent forecasts.

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SYDNEY — As the Iran war enters its second month with the Strait of Hormuz largely closed and global oil prices hovering above $100 a barrel, economists are warning that supply-chain shocks will deliver a triple blow to Australia's economy this year — driving inflation higher, squeezing key industries and raising recession risks.

U.S. employers added 178,000 jobs in March, a solid rebound that far exceeded economists' expectations and signaled underlying resilience in the labor market despite ongoing geopolitical tensions from the conflict with Iran and surging energy costs.

NEW YORK — U.S. stock markets were closed Friday, April 3, in observance of Good Friday, leaving investors to digest the latest economic signals without the ability to trade as geopolitical tensions from the ongoing conflict with Iran continued to cast a shadow over Wall Street.

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NEW YORK — The U.S. stock market is closed today, Friday, April 3, 2026, as the New York Stock Exchange and Nasdaq observe Good Friday, one of the few non-federal holidays when major U.S. equities exchanges halt all trading.

NEW YORK — Bitcoin fell modestly Friday morning amid lingering uncertainty from the ongoing U.S.-led military campaign against Iran, with the world's largest cryptocurrency trading near $66,650 after shedding about 0.36% in early Asian and European hours.

SYDNEY — Australian shares retreated Thursday, with the benchmark S&P/ASX 200 closing down 92.3 points, or 1.06%, at 8,579.5 after erasing early gains in a volatile session driven by renewed geopolitical tensions in the Middle East.

Gold prices fell sharply Friday, with spot gold trading at $4,654.86 per ounce, down $130.53 or 2.73%, as a firmer U.S. dollar and rising Treasury yields weighed on the non-yielding precious metal amid shifting market sentiment.

Alphabet Inc. shares traded near $294 on Friday morning as investors weighed whether the Google parent company represents a compelling buy amid robust artificial intelligence growth, record revenue and looming capital spending increases.

SYDNEY — As the Australian sharemarket navigates mixed economic signals in April 2026, including steady Reserve Bank of Australia rates and sector-specific pressures, several S&P/ASX 200 stocks are trading at significant discounts to their estimated intrinsic value, positioning them for potential substantial upside as earnings momentum builds through the year.

SYDNEY — Investors seeking reliable income in a volatile interest rate environment are turning to high-yield dividend stocks within the S&P/ASX 200 Index as the Reserve Bank of Australia holds the cash rate at 4.1% following recent hikes, making dividend yields from established companies an attractive alternative to term deposits and bonds.

Shares of Blue Owl Capital Inc. fell sharply in morning trading Thursday after the alternative asset manager announced it would limit redemptions on two major private credit funds following unprecedented withdrawal requests from investors, raising fresh concerns about liquidity in the booming but scrutinized private credit sector.

Shares of Iridium Communications Inc. jumped more than 10% in early trading Thursday after the satellite services provider announced the release date for its first-quarter 2026 financial results, signaling investor optimism about the company's expanding role in global connectivity and positioning, navigation and timing technologies.

Shares of Sky Quarry Inc. (NASDAQ: SKYQ) exploded more than 94% in early trading Thursday, climbing from a previous close near $2.53 to $4.93 as investors reacted to a fresh company statement highlighting the strategic importance of its Nevada refinery amid surging Brent crude prices above $110 per barrel and shrinking West Coast refining capacity.