
The local share market has backed off from an early rally, with oil prices inching higher before a US ultimatum to Iran to make a deal or face further attacks on civilian infrastructure.
The S&P/ASX200 rose 149.3 points on Tuesday, up 1.74 per cent, to 8,728.8, as the broader All Ordinaries gained 146.3 points, or 1.67 per cent, to 8,921.2.