ASX 200 live: ASX falls as oil markets on edge over Iran's next move; Metcash underlying profit down; Adairs drops

Broad based losses amid concerns about the fallout over the bombing of Iran's nuclear facilities by the US. But investors snap up financial and energy stocks. All eyes on key oil corridor Strait of Hormuz amid fears oil may hit $US100 a barrel. 

Oil prices are on the boil on escalating Middle East tensions. Picture: Bloomberg

Welcome to the Trading Day blog for Monday, June 23. The ASX 200 index closed 0.4 per cent lower at 8474.9 points amid broad-based declines, led by materials and industrials stocks.

The US launched its attacks on three Iran nuclear facilities on Saturday (Sunday AEST) as Israel, Iran missile strikes continued. US stock futures fell, and oil futures are higher.

The price of Brent crude oil, the international standard, rose 3.9 per cent to $US80 a barrel in opening trade, but is now near $US77 per barrel, while US crude, that is West Texas Intermediate (WTI), has trimmed gains to $US75 per barrel.

Gold futures are flat near $US3378 per ounce.

Cryptocurrency giant bitcoin is near $US101,100.

The Aussie dollar is trading around US64.05c.

Originally published as ASX 200 live: ASX falls as oil markets on edge over Iran's next move; Metcash underlying profit down; Adairs drops