AAP

Brent crude fell below $US20 a barrel and US crude plunged 25 per cent, driven lower by skittish investors fleeing the US benchmark due to lack of available storage to deal with a coronavirus-induced collapse in demand.

Gold fell on Monday as US Treasury yields rose and plans by many countries to ease coronavirus-induced lockdowns whetted investor appetite for riskier assets, but unprecedented stimulus measures from governments provided underlying support.

Energy and materials stocks have helped the Australian share market to its first winning day this week.

STA Travel has been ordered to pay $14 million in penalties for misleading advertising related to a product that purported to let consumers change the dates of their flights without fees.

Investors have given a flat start to the Australian share market after mixed fortunes overseas.

Oil has extended its rebound after major oil-producing nations said they would accelerate planned production cuts to combat the dramatic slump in demand due to the COVID-19 pandemic.

Gold prices jumped as much as 1.5 per cent to more than a one-week high overnight, after hopes of more stimulus from the United States to cope with a coronavirus-led lockdown.

The Australian share market has treaded water for a second straight day, with gains for mining and energy stocks outweighed by losses for the rest of the market.

Santos has posted a 13 per cent drop in first-quarter revenue due to lower realised prices for oil and gas but says it has sufficient liquidity and debt headroom to weather the recent crude price c

Investors have helped Australian stocks into positive territory in early market trading after a rise in world oil prices overnight.

Brent crude oil rebounded from two days of losses and US futures surged bolstered by tentative talk of additional supply cuts from OPEC producers and US inventory builds that were less dire than some expected.

Gold prices jumped as much as 1.9 per cent overnight on expectations of more stimulus measures amid massive economic damage due to restrictions around the world to slow the novel coronavirus.

The Australian share market has roared back from early morning losses of 2.3 per cent to finish flat on the day.

S&P Global Ratings has lowered its credit rating on Virgin Australia to CC from CCC, saying it expects the company's unsecured debt providers will be forced to accept less value than they are owed as part of the company's debt restructuring process.

Retail turnover surged by a monthly record of 8.2 per cent in March as consumers rushed to stockpile groceries and office supplies ahead of COVID-19 lockdowns.

The owner of Hollywood and Joondalup hospitals plans to raise $1.4 billion to help it deal with the adverse financial impact of the coronavirus pandemic, with St John of God Health Care also having to manage a sharp slowdown in its normal business.

Early trade has cast a bleak picture for the ASX today, after oil prices continued to slump overnight.

Gold prices dropped nearly 2 per cent to a near two-week low overnight, while palladium slumped 15.5 per cent as investors scuttled for cash to cover losses in other asset classes mainly driven by a crash in oil markets as the coronavirus wrecks economies.

Brent oil futures prices plunged overnight, extending oil market panic into a second day as the coronavirus pandemic has obliterated demand for fuel.

The Australian share market has plunged for a second day, falling to nearly a two-week low as US oil futures collapsed into negative territory.

The nation still has a second airline - for now. But Virgin Australia has been told in no uncertain terms that it will have to save itself.

BHP's iron ore production is on track to meet full year guidance and is reviewing the forecast for copper amid the perils of the coronavirus.

The Australian share market has followed Wall Street lower after US crude oil futures turned negative for the first time amid a coronavirus-induced supply glut.

US crude oil futures collapsed below $US0 for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $US37.63 a barrel as desperate traders paid to get rid of oil.

Gold climbed as much as 1 per cent overnight after earlier hitting a more-than one-week low, with the collapse of US crude oil prices to a record low hitting risk assets and driving investors to the safety of bullion.

Australian stocks have suffered their worst loss in three weeks after the price of oil was smashed to its lowest level since 1999.

Virgin Australia is declining to comment on media reports it will file for voluntary administration due to the coronavirus lockdowns.

IGA supplier Metcash is seeking to raise $330 million to strengthen its balance sheet as it weathers the COVID-19 restrictions.

The Royal Flying Doctor Service could be used to evacuate coronavirus-infected Australians from remote communities during the pandemic.

National Australia Bank's first-half result will be rocked by a $1.14 billion triple hit of extra charges and writedowns even before coronavirus impacts are factored in.

South32 has posted a near 18 per cent rise in third-quarter metallurgical coal output and says it has received approval to restart its South African coal operations during a coronavirus-related lockdown, although at a reduced rate.

Caltex Australia will not be acquired by fuel retailer Alimentation Couche-Tard, at least in the short term, after talks about an $8.8 billion deal were put on ice.