Aussie shares flat as oil swings on US-Venezuela coup
Oil prices are in focus after the US deposed Nicolas Maduro and moved to take over Venezuela's oil. -AAP Image
Strong commodity prices have helped balance Australia's stock market despite fossil fuels dipping as investors weigh the capture of Venezuelan President Nicolas Maduro by US special forces.
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The S&P/ASX200 edged 0.8 points higher on Monday, up 0.01 per cent to 8,728.6, as the broader All Ordinaries fell seven points, or 0.02 per cent, to 9,034.7.
Only raw materials and utilities stocks ended the day clearly higher as a bounce in iron ore prices boosted large-cap giants BHP and Fortescue, while Rio Tinto jumped more than one per cent to a new intraday peak of $150.14.
Fossil fuel giants Woodside and Santos gave up early gains to slip roughly one per cent by the close, tracking with oil price volatility after US forces bombed Venezuela and captured Maduro at the weekend.
The Australian dollar is buying 66.70 US cents, up from 66.94 US cents on Friday at 5pm.
