Steve Daghlian

And there's just a whole bunch of conflicting messages about the US-Iran at the moment.

There's no clarity at all of what the next steps are.

And just when it looks like there's progress being made, there's an escalation.

And markets, I think, are just waiting to see what happens next.

Yeah, I mean, the US market was up by roughly 1.2% on Friday, and that's when President Trump said the Iran war would end soon.

He announced fresh talks as well.

As you say, that negotiators are heading over to Pakistan at the moment.

Iran rejected this.

Then the US seized an Iranian cargo ship.

Tehran vowed to retaliate.

The Strait of Hormuz was reopened for less than 12 hours.

Everyone was pretty excited about this.

And then quite soon after, it was shut again.

So this is ongoing and it's a reason why, yes, the US markets were up on the Friday session.

Futures now are pointing to a decline of between half and about 1%.

It's been the case for most of the afternoon.

And then oil prices have generally been up in the order of 7% after slumping, you know, following news that things look like they were getting better on Friday.

Yeah, so four straight days of declines for energy stocks.

But we've got to remember, of course, that last month it was up 18% in the March quarter.

In fact, energy stocks have jumped by about 35%.