Australia's share market has pared some early losses, as investors weighed fresh US strikes on Iran against White House assurances of an impending peace deal.
The S&P/ASX200 fell 34.2 points on Tuesday, down 0.39 per cent, to 8,657.8, as the broader All Ordinaries lost 32.8 points, or 0.37 per cent, to 8,882.6.
Energy and utilities stocks were heavy despite an uptick in oil prices, as investors took profits on hopes a US-Iran peace deal could be negotiated within days, despite US forces striking targets in southern Iran.
The two nations reportedly remain divided on the Hormuz Strait, Tehran's nuclear ambitions and frozen Iranian funds.
The Australian dollar is buying 71.59 US cents, down slightly from 71.66 US cents on Monday at 5pm, ahead of consumer price index data due Wednesday.
