The local market’s wobbles come after Wall Street slipped further from its records overnight, with oil prices swinging on uncertainty about when the war with Iran will allow crude to flow freely again.

Stocks rose on Wall Street and Treasury yields fell after the government reported that employers unexpectedly cut 23,000 jobs last month.

The Australian sharemarket edged higher as energy stocks rallied due the latest jump in oil prices, as investors awaited the Reserve Bank’s decision on interest rates.