Market Wrap / oil outlook

The S&P/ ASX 200 seesawed this Tuesday, but ultimately ended slightly lower, down just 7 points to 8,541.30.  

The Israel-Iran conflict remained front of mind, with oil prices receding as Iran sought a ceasefire. 

The local energy sector gave back Monday's solid gains, with Woodside lower by 1%. 

Santos gained 0.5% after Federal Treasurer Jim Chalmers flagged the ADNOC takeover was not a done deal. The Foreign Investment Review Board is still due to weigh in. 

Meanwhile the gold players made some gains, with Northern Star Resources up 1,5%. The uranium miners also rallied. 

In company news, CSL says the US FDA has approved its treatment for hereditary angioedema. Shares added 0.1%. 

And Southern Cross Electrical Engineering rose 5.2% as it was awarded a range of projects totaling over $70 million.

Over in Asia, the Bank of Japan held its policy rate steady. Tonight, US retail sales and trade prices are due. And tomorrow the Westpac-Melbourne Institute leading index for May will be released.