ASX recovers as Woodside profit and oil prices surge, but Wall Street sell-off intensifies

The Australian share market has clawed back some of yesterday's heavy losses, despite another slump in global markets over the possibility of more aggressive US and European interest rate hikes ahead.

The ASX 200 closed 0.5 per cent higher, at 6,998 points.

Energy stocks like Woodside Energy (+1.5 per cent) and Santos (+1.5 per cent) drove the market higher.