Aussie shares post worst day in a month as oil soars
By Adrian Black
Australian shares are struggling as a range of factors including rising oil prices drag the market. -AAP Image
Australia's share market has had its worst session in five weeks as oil surges and optimism fades for a timely resolution to the renewed US-Iran conflict.
Hold tight - we’re checking permissions before loading more content
The S&P/ASX200 fell 66.7 points on Friday, down 0.75 per cent to 8,772.3, as the broader All Ordinaries slipped 76.6 points, or 0.85 per cent, to 8,941.5.
The top-200 ended the week 0.28 per cent lower after three days of gains were wiped out with interest in the final session.
Miners, industrials and consumer cyclicals weighed on the exchange after Brent crude prices topped $US100 a barrel for the first time since May as the Middle East conflict expanded to the Red Sea, further fanning global inflation fears.
The Australian dollar is buying 69.74 US cents, down from 70.05 per cent on Thursday at 5pm.
8°C