# Markets live updates: Wall Street lifts on AI rebound, ASX set to gain

> Iraq reached an understanding with the United States to allow Iraqi oil exports through the Strait of Hormuz along a shipping lane near Oman. Iraq’s foreign minister said losses from the war and export disruptions had reached $60 billion; the market snapshot showed Brent roughly flat and WTI slightly higher.

- Date: 2026-11-08 · published 2026-11-08T21:09:36.605Z
- Category: trade · region Iraq · magnitude low
- Page: https://feedsoft.ai/events/88000-markets-live-updates-wall-street-lifts-on-ai-rebound-asx-set-to-gain
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A workable route through Hormuz could restore Iraqi export flows and ease supply concerns, putting some downward pressure on crude prices if shipments recover.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-08-02 | [MARKET WATCH: NYMEX oil prices tumble on US-China relations \| Oil & Gas Journal](https://feedsoft.ai/events/8498-market-watch-nymex-oil-prices-tumble-on-us-china-relations-oil-and-gas-journal.md) | -7.9% | -1.4% |
| BRENT | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -8.8% | -2.2% |
| BRENT | 2017-01-23 | [OPEC's 'fantastic' cuts fail to lift oil as market frets over Trump's protectionist policies - Financial Post](https://feedsoft.ai/events/73143-opec-s-fantastic-cuts-fail-to-lift-oil-as-market-frets-over-trump-s.md) | -0.2% | -0.2% |
| BRENT | 2019-08-05 | [Trade war fears send shudder through stock markets](https://feedsoft.ai/events/8382-trade-war-fears-send-shudder-through-stock-markets.md) | -5.8% | -1.3% |
| BRENT | 2019-08-05 | [Oil resumes steep drop as U.S.-China trade row raises demand worries - MarketWatch](https://feedsoft.ai/events/12578-oil-resumes-steep-drop-as-u-s-china-trade-row-raises-demand-worries-marketwatch.md) | -5.8% | -1.3% |
| WTI | 2019-08-02 | [MARKET WATCH: NYMEX oil prices tumble on US-China relations \| Oil & Gas Journal](https://feedsoft.ai/events/8498-market-watch-nymex-oil-prices-tumble-on-us-china-relations-oil-and-gas-journal.md) | -2.2% | +5.5% |
| WTI | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -6.9% | +4.9% |
| WTI | 2017-01-23 | [OPEC's 'fantastic' cuts fail to lift oil as market frets over Trump's protectionist policies - Financial Post](https://feedsoft.ai/events/73143-opec-s-fantastic-cuts-fail-to-lift-oil-as-market-frets-over-trump-s.md) | +1.6% | +2.0% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2026-11-09/asx-markets-business-live-news/107361534

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