Laura Besarati

Now, the White House has reportedly received the proposal, but it's unclear whether the US is willing to explore it.

So I'm sure we will hear developments of that.

But that's essentially eased immediate supply concerns and sort of lifted that risk sentiment.

And I think that's why we have somewhat narrowed the losses that we've seen in today's session.

Still a lot of caution around just because they've put that proposal forward doesn't mean the US will take it on.

We don't know what's going to happen.

Yeah, absolutely.

Company earnings have been front and centre along with what's going on

between the U.S.

and Iran.

Now, looking across the different sectors today, it's mostly a sea of red.

We are seeing energy stocks being some of the worst performers.

That's despite oil prices extending their rallies.

They pushed above 107 U.S.

a barrel, even getting closer to 108 earlier in the day.

They gained around 15% over the course of last week.

but they have pulled back a little bit.

They're still higher in today's session, but pulled back a little bit on those reports that Iran has submitted a new proposal.

We've seen gold going the other way.

It was down 3% over the week, and we did see Aussie gold miners tracking those declines.