Australian shares are poised to fall on Thursday as escalating tensions in the Middle East drive oil prices higher, with Iran targeting regional energy facilities following an attack on its South Pars gas field, raising concerns over global supply disruptions and market volatility.
Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.4%, 1.5%, and 1.6%, respectively.
In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.
In corporate news, Lynas Rare Earths (ASX:LYC) completed its first production of samarium oxide at Lynas Malaysia, expanding its separated heavy rare earth oxide offerings to three products, alongside dysprosium and terbium, according to a Thursday Australian bourse filing.
Orora (ASX:ORA) appointed Paul Victor as chief financial officer, effective Nov. 4, according to a Thursday Australian bourse filing.
Australia's benchmark index rose 0.3% or 26.3 points to close at 8,640.60 on Wednesday.