Oil concerns weigh on ASX
Australian shares ended the day slightly lower after resurgent oil prices stoked concerns around inflation and interest rates.
The S&P/ASX 200 fell 9.3 points on Tuesday, down 0.1%, to 9,066.7, as the broader All Ordinaries dipped by 10.5 points, or 0.11%, to 9,260.9.
Energy stocks outperformed the other sectors after renewed US-Iran fighting supported oil prices, stoking inflation fears and sparking buying in the defensive health care and utilities segments.
Resources edge higher
Resources made up the only other grouping to end the day higher, gaining 0.7% as gold producers held their ground and copper prices inched towards record highs.
The Australian dollar is buying 71.69 US cents, up from 71.61 US cents on Monday at 5pm.
