Market Open: Iran crisis sees global markets (and Oz) stay lower; oil, safe gold both booming | March 3

Market Overview - Australian shares are expected to drop by 20 points, following a global trend influenced by geopolitical tensions, particularly the U.S. and Israel's actions in Iran [1] - Oil prices have surged since the onset of the conflict, with gold and the U.S. dollar also experiencing increases [2] - Major global indices like the FTSE and Stoxx 600 have seen declines between -1.2% and -1.6%, while the Nikkei has retreated similarly [3] Commodity and Currency Insights - The Australian dollar is trading at US 70.8 cents [9] - Iron ore prices have increased by 0.7%, now at $99.10 per tonne, while Brent crude oil has risen by 7% to $78.41 per barrel [9] - Gold is priced at $5,452 per ounce, and U.S. natural gas futures are up by 4.5%, reaching $2.98 per gigajoule [9] Company Updates - Atomic Eagle (ASX:AEU) reported a 24% increase in uranium resources at Muntanga, Zambia, following initial drilling [6] - Brazilian Critical Minerals (ASX:BCM) confirmed continuous rare earth mineralization over an 82 km² area at the Ema project in Apuí [6] - Pioneer Minerals (ASX:PMM) achieved surface results with uranium concentrate returns up to 4,257 ppm at Countryline, indicating potential for further exploration [7] - Leeuwin Metals (ASX:LM1) is expanding its drilling at Evanston, yielding significant gold intercepts within the top 100 meters, suggesting additional resource growth [7] - Life360 (ASX:360) is set to release its quarterly results [8]