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AAP
AAP
Business
Derek Rose

Australian shares sink as oil hits $US116 a barrel

Australia's benchmark index has slipped to a six-day low, pressured due to war in the Middle East. (Joel Carrett/AAP PHOTOS)

The Australian share market has fallen again after oil rose to near a four-year high, amid fears another strategic Middle East waterway could become an energy choke point.

The benchmark S&P/ASX200 index on Monday finished down 55.3 points, or 0.65 per cent, to a six-day low of 8,461.0, while the broader All Ordinaries also dropped 55.3 points, or 0.63 per cent, to 8,657.5.

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