MT Newswires -ShutterstockAustralian shares are poised to fall on Thursday as a surge in oil prices fuels inflation concerns and heightens worries over Middle East supply disruptions. Investors are also weighing uncertainty around US monetary policy after Federal Reserve Chair Kevin Warsh kept rates unchanged while signaling further tightening could be considered if inflation remains persistent. Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.5%, 1.7%, and 2.2%, respectively. In the macroeconomy, Australia's building approvals and international trade price indexes data are due at 11:30 am Sydney time. In corporate news, Champion Iron (ASX:CIA) reported Thursday fiscal first quarter loss of CA$0.07 per share on revenue of CA$356.9 million, compared with profit of of CA$0.05 on revenue of CA$390 million a year earlier.