Local energy stocks may be hurt by a sharp decline in oil prices on Wednesday after a US Gulf storm weakened and moved away from oil-producing areas.

The Australian share price index futures slipped 0.4 percent to 6,190, a 40.4-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 1 percent on Wednesday.

New Zealand's benchmark S&P/NZX 50 index fell 0.3 percent in early trade.