# Markets today: Wall Street jumps as oil lunges; ASX set to rise on RBA day

> US stocks gave back part of an early rally as tech shares stayed weak, while Brent crude fell 7.6% to about $104.77 per barrel. The Australian sharemarket was set to rise ahead of the RBA decision, with a rate rise widely expected.

- Date: 2026-11-02 · published 2026-11-03T00:10:21.165Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/76432-markets-today-wall-street-jumps-as-oil-lunges-asx-set-to-rise-on-rba-day
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The sharp oil drop reflects shifting expectations for an end to the Iran war, which could ease energy costs for feed production and transport. Oil remains highly volatile, so price direction for energy-linked feed inputs is uncertain.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- smh.com.au: https://www.smh.com.au/business/markets/asx-set-to-jump-on-rba-day-wall-street-rises-as-oil-prices-tumble-20261103-p61ar8.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.