Australia's share market has fallen for a fourth straight session, as a second day of renewed conflict between the US and Iran hammered hopes of a permanent peace deal and painted a grim picture for global inflation prospects.
The S&P/ASX200 fell 22.6 points on Thursday, down 0.26 per cent, to 8,762.5, as the broader All Ordinaries lost 18 points, or 0.2 per cent, to 8,961.3.
Resurgent crude prices supported oil, gas and refinery stocks, and although the raw materials sector tumbled to its lowest value since April, there were positive signs in other segments.
The Australian dollar is buying 69.41 US cents, up from 69.33 US cents on Wednesday at 5pm.