Australian shares were flat at market close on Friday, as oil prices continued to climb over concerns of a potential conflict between the US and Iran.

The S&P/ASX 200 was little changed to close at 9,081.40.

Brent crude oil settled at $71.66 per barrel on Thursday, while West Texas Intermediate crude rose to over $66 per barrel, closing at the highest level since August 2025. US President Donald Trump said that Iran has 10 to 15 days at most to secure a deal over its nuclear program as the US builds up forces in the Middle East.

On the domestic front, the Flash Australia PMI Composite Output Index fell to 52 in February from 55.7 in January, marking the 17th consecutive month of growth amid softer expansions in both manufacturing and services, according to a survey by S&P Global.

The Flash Services PMI Business Activity Index fell to 52.2 in February from 56.3 in January. The Flash Manufacturing Output Index edged down to 50.7 from 51.7, while the Flash Manufacturing PMI decreased to 51.5 from 52.3.

In company news, QBE Insurance Group (ASX:QBE) reported 2025 adjusted earnings of $1.413 per basic share, up from $1.152 a year earlier. Gross written premium for the 12 months ended Dec. 31, 2025, was $23.96 billion, compared with $22.4 billion a year earlier. Shares of the company fell 34% at market close.

Guzman y Gomez (ASX:GYG) reported Friday fiscal first-half earnings of AU$0.101 per share, up from AU$0.069 a year earlier. Revenue for the six months ended Dec. 31, 2025, was AU$261.2 million, compared with AU$212.4 million a year earlier. Its shares fell 11% on market close and earlier hit a record low.

Lastly, Inghams Group (ASX:ING) reported Friday fiscal first-half earnings of AU$0.049 per share, down from AU$0.138 a year earlier. Revenue for the six months ended Dec. 27, 2025, was AU$1.61 billion, compared with AU$1.61 billion a year earlier. Shares closed down 15% and earlier hit a record low.