Aug 1 (Reuters) -Australian shares rose for a second straight session on Thursday in broad-based buying, with energy and mining stocks leading the gains on stronger underlying commodity prices.

The S&P/ASX 200 index .AXJO rose 0.5% to 8,130.40 by 0038 GMT. On Wednesday, the index climbed 1.8% to hit an all-time closing high after softer-than-expected inflation data lowered odds of an interest rate hike next week. The Aussie dollar was last 0.05% weaker against the U.S. dollar at A$0.65.

Data showed the annual pace of second-quarter core inflation was the slowest since early 2022, prompting investors to rein back the probability of a rate hike at the Reserve Bank of Australia's policy meeting on Aug. 6. 0#RBAWATCH

In Sydney, energy stocks .AXEJ rose as much as 1.4% after oil prices jumped nearly 3% overnight on worries over rising tension in the Middle East and a sharp fall in U.S. crude stockpiles. O/R

Oil and gas producers Woodside Energy WDS.AX and Santos STO.AX gained 0.8% and 1.3%, respectively.

Brent crude LCOc1 futures rose 0.74% to $81.44 a barrel on Thursday, while U.S. West Texas Intermediate (WTI) crude CLc1 gained 0.83% to $78.56 per barrel.

Heavyweight miners .AXMM climbed 1.2% after copper prices rebounded on Wednesday to a one-week high on a weaker dollar and hopes for fresh stimulus from top metals consumer China. MET/L

Tech stocks .AXIJ advanced 1.7%, tracking overnight gains in the Nasdaq on Nvidia's rosy sales forecast. .N

The U.S. Dow Jones Industrial Average .DJI rose 0.24% on Wednesday, the S&P 500 .SPX gained 1.58%, and the Nasdaq .IXIC climbed 2.64%.

Gold stocks .AXGD rose 1.5% after bullion prices extended gains on Wednesday as U.S. Federal Reserve Chair Jerome Powell hinted at an early rate cut. GOL/

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 was 0.7% higher at 12,495.32.

Reporting by Ayushman Ojha in Bengaluru; Editing by Subhranshu Sahu

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