James Gruber

Meanwhile, the Energy Index lost 1.5%, with heavyweight Shell and BP off about 2.5% each.

Imperial Brands dropped 4.8% after the maker of Davidoff cigarettes said the impact of the Middle East conflict could disrupt second-half performance.

It's now time for the watch list.

In Australia, there are more ASX companies making dividend payments, including Endeavor Group, Qantas and Remelius Resources.

In the US, earnings season continues with Bank of America, Morgan Stanley, Progressive, PNC Financial and M&T Bank reporting today.

Now it's time for our One More Thing segment.

Given the Iran war, China's 15th five-year plan announced last month has fallen under the radar.

The plan calls for deepening industrial capabilities, meaning a future built around robots, flying taxis and quantum computing.

It's futuristic and ambitious and belies a moribund economy struggling under the weight of the still downbeat property market.

Past five-year plans have proven a mixed bag.

They've resulted in China being a world leader in the likes of EVs, solar power and high-speed rail, but the last five-year plan missed several goals.

That said, the plan has traditionally been more of a signal to Chinese officials to push in the same direction, rather than being a blueprint for the country's future.

And that's it for today.

The ComSec Media and Markets team is monitoring developments on today's local trading session.

So please check out our afternoon episode of the podcast for all the key updates.

I'm James Gruber.

Have a great day.

US shares rise as Trump says Iran wants a deal.

But oil jumps after Tehran's threats to retaliate to the military blockade.

And how Asia is being hit especially hard by the oil crisis.