AAP

Oil prices have slipped for a second straight day, as a slump in US crude stockpiles was offset by a larger-than-forecast rise in petrol inventories and as US crude output continued to grow to record highs.

The share market has edged higher as the property sector was boosted by the $33 billion takeover of Westfield, and the consumer staples sector also rose.

Reserve Bank of Australia governor Philip Lowe thinks bitcoin is mostly attractive to criminals and speculators but has acknowledged there could one day be an electronic Aussie dollar based on similar technology.

The Australian share market is holding on to gains as investors wait on the sidelines ahead of an expected interest rate rise by the US central bank.

The Australian dollar is higher against its US counterpart which itself has risen following strong economic data.

Oil prices have fallen sharply, as traders take profits after prices surged early to a two-year high on an unplanned closure of the pipeline that carries the largest North Sea crude oil grade.

Gold prices have retreated to a near five-month low as investors brace for a widely expected US interest rate increase this week and look for clues about further rises from the Federal Reserve.

Frank Lowy's Westfield Corporation has agreed to a takeover from European property giant Unibail-Rodamco in a deal worth $US25 billion.

The share market has been buoyed by strength in the heavyweight energy and mining sectors.

ANZ has agreed to sell its life and consumer credit insurance business OnePath Life to international insurance giant Zurich for $2.85 billion.

The Australian share market is moderately stronger in early trade amid solid gains from the big miners.

The Australian dollar is a little higher against its US counterpart which has remain unchanged.

Gold has steadied below $US1,250 an ounce after its biggest weekly drop in more than six months as markets anticipated an interest rate risee from the US Federal Reserve this week.

Oil have risen, overcoming declines early in the session, after a North Sea pipeline shut for repairs and investors focused on commodities following an explosion in New York.

Mineral Resources has launched a $484 million takeover bid for oil and gas group AWE amid the ongoing battle for control of the Waitsia gas field north of Perth.

The Australian share market ended the first trading day of the week slightly higher amid lower volumes ahead of this week's key data releases.

A joint venture between engineering groups Downer and Ausenco has secured an engineering, procurement and construction contract for OZ Minerals' Carrapateena copper gold project in South Australia.

Optus will compensate almost 9,000 customers after failing to provide them with the fast national broadband network speeds it promised.

The Australian share market has started higher as local investors build on the positive momentum from Wall Street on Friday.

The Australian dollar is a little lower against its US counterpart which has strengthened following strong US jobs data.

Oil prices have risen almost two per cent on Friday, helped by rising Chinese crude demand and threats of a strike in Africa's largest oil exporter.

Gold prices prices hovered above a four-month low on Friday and were on track for their biggest weekly fall since May after progress on US tax reform fuelled optimism about the US economy and boosted the dollar.

RugbyWA is out of voluntary administration after Rugby Australia waived a legal debt of more than $1 million.

The Australian maker of a sonar-based shark detection system, which was recently adopted for trial in southern California, has dropped its toothy name as it chases bigger fish.

The Australian share market has ended the day comfortably higher with an end-of-week rally across most sectors, led by a jump in energy stocks.

The Australian share market has gained ground in early trade, thanks to a lift in oil prices and a positive lead from Wall Street.

The Australian dollar is flirting with the 75 US cent mark after continuing its slide against its steady US counterpart.

Gold has fallen one per cent, hitting a four-month bottom below its recent trading range, as Wall Street stocks rose and the US dollar strengthened on optimism about passage of a US tax overhaul.

Oil prices have climbed more than 1 per cent on Thursday due to a threatened strike in Nigeria and as traders cover shorts after sharp losses the previous day brought on by an unexpectedly large rise in US stocks of refined fuels.

Australian shares have closed higher after a strong day for the big four banks and most other heavyweight stocks.

Australian shares are higher in early trade, ignoring a negative lead from the US where strength in technology stocks were unable to offset losses in energy shares after oil prices dropped.

The Australian dollar has slipped against its US counterpart which has continued strengthening amid optimism for US tax reform, lawmakers' efforts to avert a government shutdown.