Trump confirms US military strikes; Strait of Hormuz closed; explosions heard in Bandar Abbas, Fars, Gorgan, Hengam Island, Minab, Sirik, Qeshm Island and West Tehran

Australia’s share market has resumed its downtrend, after Iran again closed the Strait of Hormuz following an escalation of attacks between it and the United States.

The S&P/ASX200 fell 37.2 points by midday on Thursday, down 0.43 per cent, to 8,616.1, as the broader All Ordinaries lost 42.7 points, or 0.48 per cent, to 8,813.7.

“The focus remains firmly on the Middle East after US President Donald Trump stated the United States would ‘hit Iran hard’ after it attacked US military assets in the region,” Moomoo dealing manager Chris Strazzeri said.

“Markets are increasingly concerned that a prolonged conflict will extend the disruption in energy supply routes.”

Local energy stocks advanced as West Texas crude surged by $US4 to $US92.80 a barrel, bolstering oil and gas giants Woodside and Santos by roughly two per cent each.

AAP