ASX extends losses as Gulf worries buoy oil prices

Australia's benchmark bourse has dropped again as the Middle East energy shock drags on sentiment. (Dean Lewins/AAP PHOTOS)

Australia's share market has notched a sixth-straight session of losses, falling on reports the US will likely reject an Iranian plan to open the Strait of Hormuz.

The benchmark S&P/ASX200 index fell 55.7 points on Tuesday, down 0.64 per cent, to 8,710.7, as the broader All Ordinaries slipped 55.8 points, or 0.62 per cent, to 8,935.