Sept 26 (Reuters) - Australian shares are likely to edge upward on Tuesday, helped by a recovery in commodities and soaring oil prices.
Oil prices rose over 3 percent on Monday, with Brent hitting its highest in more than two years, as two big producers said the global market was on its way to rebalancing. O/R
The local share price index futures YAPcm1 rose 0.25 percent to 5685, a 1.3-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.03 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.001 percent to 7,869.76 by 0912 GMT after posting a four-week closing high on Monday as business-friendly National Party won the largest number of votes in the general election.