SYDNEY, March 19 (Xinhua) -- The Australian share market fell by 1.7 percent on Thursday to its lowest close in over three months as global oil prices continued to surge.

The benchmark S&P/ASX 200 closed at 8,497.8 points on Thursday, down from 8,640.6 points at the close of trade on Wednesday.

The Australian Financial Review (AFR) reported that it was the lowest close for the index since late November.

As of the close of trading on Thursday, the ASX 200 was down 2.5 percent so far in 2026 and by 7.6 percent from 9,200.9 points at the close of trading on March 2.

The AFR reported that the fall since March 2 has wiped about 265 billion Australian dollars (186.5 billion U.S. dollars) in value from the market.

Of the 200 stocks included in the ASX 200, 162 fell on Thursday.

Oil and gas producer Woodside Energy was among the biggest gainers, rising by 7.2 percent. ■