Australian shares are poised to fall on Thursday, tracking weaker global markets after US Federal Reserve minutes showed officials largely favored further interest-rate increases to contain persistent inflation.

Oil prices eased after the International Energy Agency agreed to accelerate releases of emergency stocks, although Middle East supply risks and a storm threatening US production kept volatility elevated.

Overnight, the S&P 500 and the Nasdaq Composite each fell 0.2%, while the Dow Jones Industrial Average declined 0.7%.

In the macroeconomy, investors are awaiting the release of the consumer inflation expectations report.

In corporate news, Fortescue (ASX:FMG) reported preliminary iron ore shipments of 46.8 million tonnes for the September quarter, down 6% from a year earlier.

Ramelius Resources (ASX:RMS) produced 48,839 ounces of gold in the September quarter, down from 55,013 ounces in the prior corresponding period.

Australia's benchmark index edged down 0.1%, or 8 points, to close at 8,727.70 on Wednesday.