ASX surges 1.4pc as oil drops on hopes of renewed US-Iran diplomacy | Finance Report | ABC NEWS

After surging to a two-month high of $US100 per barrel a few days ago, the benchmark oil price plummeted on expectations the US and Iran will soon re-attempt peace negotiations. This led to a major rebound on the Australian share market, which gained 1.4pc as tech and mining stocks surged. Shares of Myer dropped 12pc after the department store chain said its sales have been "volatile" as its customers cut back on spending during the 'End of Financial Year' sales period. Presented by David Chau.

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