Futures point to a flat start for the sharemarket on Monday, but the escalating war in the Middle East is likely to push oil and borrowing costs even higher.

Futures point to a flat start for the sharemarket on Monday, but the escalating war in the Middle East is likely to push oil and borrowing costs even higher.

The Australian sharemarket slumped to a six-week low on Tuesday, with investors bracing for higher interest rates as the Middle East conflict continues to push up fuel costs.