Australian shares are expected to open lower after oil prices climbed amid concerns that the conflict in Iran could persist longer than many had anticipated. Ahead of Monday's opening, ASX futures fell 0.5%, indicating the S&P/ASX 200 index may relinquish the gains achieved last week. The benchmark index dropped sharply by 1.5% on Friday, narrowing its five-day advance to just 0.2%. Before the market open, pharmaceutical firm CSL revised down its annual profit forecast and indicated it would take an additional $5 billion in pre-tax asset impairments. Explosives manufacturer Dyno Nobel stated that, following a more than doubling of its first-half profit, it expects to meet its annual earnings target.