S&P/ASX 200 closes lower as Australian shares slip, oil price surge triggers inflation fears; check top gainers and losers

Australian shares fell on Thursday, March 12, 2026, as oil prices climbed due to Middle East conflict. This surge fueled inflation worries and increased expectations for an interest rate hike by the Reserve Bank of Australia next week. The S&P/ASX 200 index saw significant drops, with energy stocks being the only sector to gain.