The Australian sharemarket has fallen sharply at the open with mining stocks plunging, while oil prices climbed to their highest mark since May overnight as the war with Iran keeps escalating.

The Australian sharemarket has slumped to a fresh six-week low as crude oil traded above $US100 a barrel amid further escalation in the US war with Iran.

The Australian sharemarket has fallen sharply in early trade after stocks fell on Wall Street as the price of crude oil rose back above $US100 a barrel amid further escalation in…