The Australian share market is on track for a second straight session of gains, as oil prices eased on hopes of a potential peace deal between the United States and Iran. The S&P/ASX200 jumped 75 points by noon on Thursday, up 0.85 per cent, to 8,868.6, As the broader All Ordinaries gained 80.6 points, or 0.89 per cent, to 9,096.7. The continued upswing followed a positive session on Wall Street, following reports that the US had proposed a memorandum of understanding to Iran to end the war.