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Australian shares rise on energy boost, Fed decision in focus
Australian shares inched higher on Wednesday, driven by energy stocks on firm oil prices, while market participants watched developments in the Middle East and awaited the US Federal Reserve’s policy decision. The S&P/ASX 200 index rose 0.3% to 8,699 by 0003 GMT after a 0.9% fall on Tuesday. Crude oil futures were down due to an unexpected build in US crude inventories. Prices hit their highest since May 19 on Tuesday as a slew of events in the Middle East deepened concerns that disruptions to a critical oil-export route could persist for weeks. Investors weighed the risk that higher oil p...
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