Aussie shares trim losses, gold bounces on truce hopes

Crude prices have eased on reports US mediators are seeking a new ceasefire with Iran. (Lukas Coch/AAP PHOTOS)

Australia's share market has pared its early losses to end the session roughly flat, as oil prices ease on hopes diplomacy could end a recent re-escalation of the US-Iran conflict.

The S&P/ASX200 rose two points on Tuesday, up 0.02 per cent to 8,793.3, as the broader All Ordinaries gained 2.2 points, or 0.02 per cent, to 8,976.9.