Oil Price Surge Fuels Market Jitters Ahead of RBA Interest Rate Decision

The Australian sharemarket is set to open lower today as investors grapple with rising oil prices and a more hawkish US interest rate outlook.

The S&P/ASX 200, which began the week in negative territory but still recorded its fifth consecutive calendar month of gains, is expected to decline by 22 points or 0.2%.

The benchmark fell 16.3 points, or 0.18%, to 9,076 on Monday, while the broader All Ordinaries declined 22.9 points, or 0.25%, to 9,271.4.