Aussie shares snap losing streak but crude risks weigh
Oil prices are on the rise again as traders ponder confusing mixed messages on the war. -AAP Image
Australia's share market has snapped a three week losing streak, but uncertainty hangs over investor sentiment as an oil supply route remains effectively blocked.
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The S&P/ASX fell 9.4 points on Friday, down 0.11 per cent, to 8,516.3, as the broader All Ordinaries lost 13.7 points, or 0.16 per cent, to 8,712.8.
It was the first positive week for the bourse since US-led attacks on Iran sparked an energy price shock that has roiled global markets, but traders remain on edge with scarce common between the US and Iran to build a ceasefire upon.
More than $245 billion in value has been wiped from the local exchange's combined market capitalisation since the conflict began at the end of February.
The Australian dollar is buying 69.10 US cents, down from 69.47 US cents on Thursday at 5pm.
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