Aussie shares dip under rising oil, stronger greenback

Ongoing uncertainty over the AI outlook and high oil prices continue to weigh on market sentiment. (Bianca De Marchi/AAP PHOTOS)

Australia's share market has handed back some of the previous session's gains, as higher oil prices continued to weigh on the global growth outlook.

The S&P/ASX200 fell 41.7 points by midday, down 0.47 per cent, to 8741.7, as the broader All Ordinaries dropped 46.7 points, or 0.53 per cent, to 8890.3.