April 28, 2026, 4:43 AM EDT. The Australian sharemarket extended its longest losing streak since June 2022, with the ASX 200 falling 0.64% to 8710.70, driven by rising fuel prices and inflation fears ahead of key data. Nine of 11 sectors declined; energy was the sole gainer due to climbing Brent Crude oil prices, up 2.5% to $110 per barrel. Key stocks including Wesfarmers and Aristocrat slid on concerns about potential interest rate hikes triggered by an expected 5% inflation spike, fueled by a 30% rise in fuel prices in March. Major miners like BHP and Rio Tinto also fell amid higher operating costs and weaker gold prices. The Australian dollar weakened to 71.63 US cents. Market sentiment remained sensitive to Middle East developments affecting oil supply.