SYDNEY, March 9 (Xinhua) -- The Australian share market fell by 2.8 percent at the opening of trade on Monday as oil prices surged due to disruptions caused by the conflict in the Middle East.
The S&P/ASX 200, which contains the top 200 companies listed on the Australian Securities Exchange (ASX), fell by 2.8 percent from 8,611 points at the close of trade on Friday to 8,596 in the first 10 minutes of trading on Monday.
The Australian Broadcasting Corporation (ABC) reported that all sectors except for energy were down in early trading and the Australian Financial Review said that the fall erased nearly 95 billion Australian dollars (about 66.2 billion U.S. dollars).
It comes after the benchmark index dropped by 3.8 percent over the week to Friday.
The ASX resumed trading on Monday morning shortly after the global oil benchmark Brent crude surged to over 100 U.S. dollars per barrel for the first time since 2022 after leading producers in the Middle East curtailed production due to disruption in the Strait of Hormuz. ■
