Brent crude up 2% intraday at $88.95/bbl.

BHP will publish full-year results before the ASX opens on Tuesday. Analysts compiled by Visible Alpha forecast 12-month underlying profit to June of $12.66bn, versus $10.16bn a year earlier. Higher copper, iron ore and coking-coal prices are expected to boost earnings; copper remains the primary market focus as BHP seeks greater exposure to the metal. BHP said copper was the largest contributor to group earnings in 1H FY2026 and plans investor site visits to its South Australia copper operations later this year, which it identifies as a growth priority.

Iran's foreign ministry spokesman Baghaei said Pakistan and Qatar are working to ease tensions and there are no other mediators.