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Markets live updates: US midterms in sharp focus, oil price eases
Oil prices ease again as markets watch the US midterms, with Australian share futures pointing to a lower open.
Key points
- Brent traded up towards $107 before falling below $101 and sat around $103.7, down 1% on the day.
- The Wall Street Journal reported the US attacked Iran's Qeshm Island.
- Gold is down 30% from its January 2026 all-time high of $US5,589.38 per ounce, now at $US3,920.
Why it matters. Futures point to a modestly lower open for Australian shares, while the NASDAQ remains in correction territory.
Oil prices eased again on Wednesday, 4 November 2026, as futures pointed to a modestly lower open for the Australian share market. Brent traded up towards $107 before dropping below $101, and sat around $103.7 later, down 1% on the day, a National Australia Bank note said. The Wall Street Journal reported the US attacked Iran's Qeshm Island, and optimism over diplomacy drove the selloff before it was pared.
Latest updates
Markets live updates: US midterms in sharp focus, oil price eases
Futures point to a modestly lower open for the Australian share market as the US midterms come into sharp focus. Investors on Wall Street moved back into big tech stocks, but the NASDAQ remains in correction territory. Oil prices eased again, as did the Australian dollar. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice. Collapse all posts Filter Posts All 10 Key Events 4 Economy 2 Housing 1 Wed 4 Nov 2026 at 8:22amWed 4 Nov 2026 at 8:22am Data centres and inflation pressure By David Taylor Advisory firm, Deloitte Access Economics, has been looking at the impact of enormous amounts of data centre spending on inflation. Here's an excerpt from its report just published. Australia’s data centre boom is landing on top of an already record construction pipeline, with the value of projects under construction approaching $870 billion in 2027 - more than double the peak of the mining boom. It comes at a time when the economy has little spare capacity to absorb it and inflation remains above target. “Australia’s investment pipeline has reached a record $1.39 trillion, including 37 data centre projects worth $141 billion, up 36% over the past year," Deloitte Access Economics Director and lead author Sheraan Underwood said. “Data centres are the newest driver, but they’re being .