Oil prices retreated as analysts remain cautiously positive that talks between Oman and Iran could reopen the Strait of Hormuz. Brent crude for October delivery fell 1.4% to $86.66, while WTI contracts slipped 1.6% to $80.94. Iranian state-run media reported Iran’s military reached an agreement with Oman on revenue sharing, though officials said a deal wouldn’t lead to reopening the strait, something requiring U.S. involvement. Saudi Arabia is also showing signs of greater oil loadings in the Persian Gulf, though concerns over shortages remain.

Qantas Airways’ bulls at Jefferies see earnings resilience and balance-sheet strength among the positives in the Australian carrier’s annual results. Analysts say the airline’s underlying pretax profit for the 12 months through June was 3.6% ahead of their forecast and 2% above consensus. However, they note that expectations had lowered against a backdrop of high fuel costs. Qantas’s continuing capital returns and its fiscal 2027 expectation of 8%-10% growth in average revenue per seat kilometer for both domestic and international operations were highlighted. Shares are up 4.0% at A$9.59.

Car-parts retailer Bapcor could become a takeover target now that it appears to be turning a corner, suggests Jefferies. Bapcor’s FY26 Ebitda totaled 153 million Australian dollars, above the A$147 million midpoint of earlier guidance, beating consensus forecasts by 4%. Revenue and underlying EPS were broadly in line. On an enterprise value-to-sales basis, Bapcor looks very cheap. "For us, the possibility of M&A—private equity or even trade—looms," Jefferies says. Shares are up 38% at A$0.63.

Hyundai Motor’s earnings could face short-term forex pressure amid a lack of near-term catalysts, Daiwa Capital’s Henny Jung and Yoonki Bae say. The South Korean auto maker remains vulnerable to the recent pullback in the dollar against the Korean won, leading Daiwa to lower its 2026-2027 EPS estimates by 4%-5%. Hyundai maintained its 2030 sales target of about 5.5 million units while raising its operating profit margin target to above 9% from the 8%-9% range announced last year.