ASX Set to Dip as Oil Prices Rise Amid Copper Record

The Australian sharemarket is expected to open slightly lower on Tuesday due to rising oil prices and renewed inflation concerns.

Rising Brent crude, which reached a six-week high of US$97.31 a barrel, has increased expectations of further interest rate hikes by the Federal Reserve in September.

This, however, may be offset by record copper prices on the London Metal Exchange, which could support heavyweight mining stocks such as BSL and Mineral Resources.