The Australian share market has closed higher following reports US president Donald Trump is willing to wind up the military campaign against Iran without reopening the Strait of Hormuz.
The S&P/ASX200 closed 20.8 points, or 0.25 per cent, higher at 8481.8, on Tuesday as the broader All Ordinaries gained 26.4 points, or 0.3 per cent, to 8683.9
The Australian dollar was buying 68.44 US cents at close, down from 68.69 US cents on Monday at 5pm.