Energy stocks top gainer Miners drag over 1.7% Australia CPI on...

	  Energy stocks top gainer 

	  Miners drag over 1.7% 

	  Australia CPI on Tuesday 

(Updates to close)

Australian shares settled marginally down on Monday as a drag in mining and gold stocks offset the sharp gain in energy stocks reflecting rising oil prices.

The S&P/ASX 200 index (xjo) fell 0.1% to 7306.4 points by the close of trading.

The inflation reading, released on Tuesday, could play a key role in the Reserve Bank of Australia's (RBA) policy decision next month.

"I think the Aussie share market is positioning itself not only for interest rate decisions from the Federal Reserve, the European Central Bank and the Bank of Japan but also embracing potential volatilities from China’s Politoburo meeting this Friday," said Glenn Yin, head of research at AETOS Capital Group.

Among indexes, energy stocks .AXEJ advanced 2.2% to hit a six-month high on strong underlying oil prices.

Oil prices eased after a near-2% jump on Friday amid growing evidence of supply shortages in the coming months.

"Oil prices have gained significantly over the last five days, which is why the energy sector is seeing a boost today. The materials sector is under pressure, with lithium miners falling," said Josh Gilbert, market analyst at eToro AUS Capital.

Oil and gas majors, Woodside Energy (WDS) and Santos (STO) rose 2.4% and 2.1%, respectively.

Real estate stocks .AXRE added 0.9% while technology stocks fell 0.1%.

Miners .AXMM emerged as the top drag on the benchmark index, falling 1.7%, hitting its lowest in almost two weeks.

Shares of mining behemoths, BHP Group (BHP) , Rio Tinto (RIO) and Fortescue Metals (FMG) fell 1.3%, 1.5% and 1.2% respectively.

Gold stocks .AXGD fell 0.2% on the benchmark index as prices remained little changed on Monday amid cautious trading before a week when the U.S. central bank could signal a pause in interest rate hikes from July. '

Shares of Northern Star Resources (NST) and Evolution Mining (EVN) fall 1.0% and 0.6% respectively.

New Zealand's benchmark S&P/NZX 50 index (nz50) rose 0.1% to finish the session at 12,018.2 points.