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AAP
AAP
Business
Adrian Black

Aussie shares tumble as oil spikes after tankers struck

Oil Australia United States Kyle Rodda Group of Seven Middle East the Middle East Woodside
Crude oil prices surged more than six per cent during local trading. (Mick Tsikas/AAP PHOTOS)

Australian shares have nosedived on reports Iran has attacked two oil tankers in Iraqi waters, snuffing de-escalation hopes and slingshotting crude prices skyward.

The S&P/ASX200 tumbled 114.5 points on Thursday, down 1.31 per cent, to 8,629, wiping all but 30 points of previous two sessions' gains.

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