Australian shares are poised to fall on Friday as global energy markets react to renewed Middle East tensions, with Brent crude briefly hitting $119 a barrel before retreating after Iranian and Israeli attacks on key oil and gas infrastructure sparked volatility.

Overnight, the S&P 500 and the Nasdaq Composite each fell by 0.3%, while the Dow Jones Industrial Average declined by 0.4%.

In the macroeconomy, investors are eyeing the Australia's consumer price index report next week.

In corporate news, Premier Investments (ASX:PMV) reported Friday fiscal first-half earnings of AU$0.6351 per share on revenue of AU$460.3 million, compared with earnings of AU$0.7307 on revenue of AU$465.2 million a year earlier.

Flight Centre Travel Group (ASX:FLT) acquired the United Kingdom-based creative and meetings-and-events agency Fresh Approach, which will join the company's FCM meetings-and-events operation while retaining its creative brand identity.

Australia's benchmark index fell 1.7% or 142.8 points to close at 8,497.80 on Thursday.