Singapore shares opened lower on Thursday as oil prices remained elevated amid ongoing uncertainty surrounding the resolution of the US-Iran conflict in the Middle East.

The Straits Times Index fell 21.01 points, or 0.4%, to 5,654.87 at the open.

The drag on local equities followed a roughly $1 per barrel rise in global oil prices on Wednesday, driven by an impasse in US-Iran peace talks that has renewed investor concerns over persistent inflation.