Australia's share market has started the week higher, as hopes for a deal to end the US-Iran conflict bolstered investor confidence and pushed oil prices below $US95 a barrel.
The S&P/ASX200 rose 35 points on Monday, up 0.4 per cent, to 8,692, as the broader All Ordinaries gained 38.2 points, or 0.43 per cent, to 8,915.4.
Equities markets across most of Asia made decent gains, as investors leaned into White House claims the US was close to a deal with Iran, despite a lack of material progress.
"I am surprised that markets are buying this - we've heard this way too many times and it's never had a foundation in fact so far," Moomoo market strategist Michael McCarthy told AAP.
"That doesn't mean that it's definitely not happening, but I would have thought the market would be looking for more than a few offhand comments to really get going, but it was enough today and we saw some good gains across the boards."
