Australian shares are poised to fall on Wednesday as oil steadies amid Middle East tensions and setbacks in Russia-Ukraine peace negotiations, with investors weighing the risk of supply disruptions against an oversupplied global market.
Overnight, the Nasdaq Composite and the Dow Jones Industrial Average each fell 0.2%, while the S&P 500 declined 0.1%.
In corporate news, Robex Resources (ASX:RXR) said that its shareholders approved the company's proposed merger with Predictive Discovery (ASX:PDI) on Tuesday, under which Predictive's unit will acquire the company's shares via a statutory plan of arrangement.
Orion Minerals (ASX:ORN) said that the holidays have delayed the finalization of unit Prieska Copper Zinc Mine's binding financing and concentrate offtake agreement with a unit of Glencore for the Prieska project in South Africa.
Australia's benchmark index fell 0.1% or 8.6 points to close at 8,717.10 on Tuesday.