The ASX 200 fell 16 points, or 0.2%, to 9,076 on Monday, reversing earlier gains as U.S. stock futures declined after oil prices surged following fresh U.S. strikes on Iranian rocket launchers near the Strait of Hormuz. Hawkish comments from Fed Chair Warsh intensified concerns about higher interest rates. Australia’s private-sector credit increased 0.6% in July, its weakest growth in five months, while services activity in China remained subdued despite a manufacturing rebound. Losses in technology, non-energy minerals and consumer stocks outweighed gains in communications and financial shares. BHP and Rio Tinto dropped more than 2%, while Northern Star Resources and Evolution Mining each fell 5.2%. Star Entertainment declined 3.9% despite reporting a narrower annual loss, while the big four banks advanced. The index nevertheless recorded its fifth consecutive monthly gain, rising 1.1% on bargain hunting. Traders are now focused on second-quarter gross domestic product and July trade data due later this week.