Australian shares were flat on Wednesday, despite losses overnight on Wall Street.
The S&P/ASX 200 Index was little changed to close at 8,911.40.
Brent crude oil futures climbed again to trade around $99 per barrel, as the Middle East conflict again intensified as the US struck Iranian tankers.
Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.6%, 0.3%, and 1.2%, respectively.
On the domestic front, Fitch Ratings affirmed New South Wales' long-term issuer default ratings at "AAA" with a stable outlook. The affirmation and outlook reflect strong economic fundamentals that underpin the state's robust revenue capacity.
Fitch Ratings affirmed Victoria's long-term issuer default ratings at "AA+" with a stable outlook. The affirmation reflects the state's large and resilient economy.
In company news, Austal (ASX:ASB) said it received a non-binding proposal from Wildcat Infrastructure to acquire Austal USA for an enterprise value of $1.25 billion to $1.35 billion on a cash- and debt-free basis.
Amcor (ASX:AMC) expanded its refillable packaging portfolio for beauty and personal care products, offering a range of customizable bottles.
Spark New Zealand (NZE:SPK, ASX:SPK) said its unit Spark Wholesale is launching a dedicated data centre interconnect service using Ciena's 1.6 terabit per second coherent technology.