ASX briefings — Wednesday 22 July 2026

ASX 200 set to open higher as Brent tops US$90 on Hormuz strikes

Brent settled at US$91.58 on 21 July 2026, up 2.65% and its first close above US$90 since 11 June, after US forces struck Iran for a 10th consecutive night and a tanker was hit in the Strait of Hormuz. The S&P 500 still rose 0.89% to 7,509.20 and the Nasdaq 1.29%, led by memory makers SNDK.US +14.27% and WDC.US +12.51%. Copper added 3.74% to US$6.535/lb while iron ore slipped to US$98.7/t, splitting the ASX miners. SPI futures point to a 0.25% higher open from 8,793.3.