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Australian shares hit over 3-month low as oil rally revives inflation worries
Australian shares hit a more than three-month low on Thursday, with most sectors trading in negative territory, as a sharp rise in oil prices revived concerns that inflation could stay persistent and keep monetary policy tight. The S&P/ASX 200 index was down 1.2% at 8,658.10, as of 0010 GMT. The index fell as much as 1.4% earlier in the session, hitting its lowest since June 12. Crude oil prices surged nearly 4% overnight after tensions between Iran and the United States flared anew, undermining hopes for an imminent easing of Middle East tensions. Australia has been grappling with rising ...
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