On Monday, Australian shares closed slightly higher, with the S&P/ASX 200 index gaining 0.1% to finish at 8,953.30 points. This modest rise comes as investors remain wary of the ongoing Middle East conflict, especially following Iran's rejection of negotiations and the U.S. seizure of an Iranian cargo ship. The market has been characterized by a lack of conviction, with the index hovering within 0.3 percentage points of its current level for nine consecutive sessions. A rally in gold miners and consumer firms supported the index, while financials and energy stocks faced downward pressure. Notably, National Australia Bank's shares fell 3.6% after announcing potential credit impairment charges of A$706 million (approximately $505 million USD). Energy stocks also declined by 3%, reaching a one-month low, with Woodside Energy and Santos losing 3% and 1.3%, respectively. The situation remains fluid, and analysts suggest that sectors most exposed to energy costs and supply disruptions may face increasing pressure as the conflict evolves.