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ASX set to fall, Wall Street steady as oil prices rise; Microsoft, OpenAI loosen partnership

Oil prices climbed about 3% as the Strait of Hormuz stayed effectively closed, while Microsoft said OpenAI models can now run on rival clouds.

The US stock market’s record-breaking rally is stalling after uncertainty rose over the weekend about what will happen next in the Iran war, while oil prices rose.

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Sydney Morning Herald broke the news in Sydney, Australia on Monday, April 27, 2026.
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