Australian shares fell again on Thursday after the price of crude oil again crossed the $100-per-barrel mark.
The S&P/ASX 200 Index fell 1.31%, or 114.50 points, to close at 8,629.
Brent crude futures jumped 9% to over $100 per barrel on Thursday after two fuel tankers in Iraqi waters were struck by explosive-laden boats, and an Iraqi official told state media that oil ports "have completely stopped operations," Reuters reported.
Meanwhile, Oman took the measure of shifting all vessels away from a major oil export terminal at Mina Al Fahal as a precaution, Bloomberg News reported.
On the domestic front, Australia's household spending fell 0.5% in February, the first drop since September 2024, with spending declining in half of all categories and annual growth slowing to its weakest rate since August 2025, according to the Commonwealth Bank of Australia's Household Spending Insights report.
Meanwhile, National Australia Bank and ANZ Research forecast that the Reserve Bank of Australia will hike the cash rates by 25 basis points in March, followed by another 25 basis points hike in May. Commonwealth Bank of Australia economists also now anticipate two 25-basis-point hikes.
In company news, Collins Foods' (ASX:CKF) shares were up 5% on market close after it signed a binding asset purchase agreement to acquire eight KFC restaurants centered around Munich, Bavaria, in Germany from JJ Restaurant for around 31.1 million euros, plus working capital.
Ora Banda Mining (ASX:OBM) expanded the mineralized envelope at the Little Gem prospect within its Davyhurst project in Western Australia to over 1,500 meters of strike and 750 meters below surface, with mineralization remaining open in all directions. Its shares rose 1% on market close.
Lastly, Liontown (ASX:LTR) reported a fiscal first-half loss of AU$0.066 per share, compared with AU$0.006 a year earlier. Revenue for the six months ended Dec. 31, 2025, was AU$207.5 million, compared with AU$100.4 million a year earlier. Its shares were down nearly 1% at market close.