Australian Market Faces Further Decline Amid Oil Price Surge

The Australian sharemarket is expected to fall further after oil prices surged past $108 per barrel, causing investors to become increasingly bearish on the market.

ASX 200 futures are pointing to a decline of 81 points or 0.9% at the open, following Thursday's 1% drop to 8,819.40.

Rising global bond yields and growing expectations of further interest-rate increases are adding to investor anxiety.