AAP

Oil prices are steady to soft after touching three-month low, testing a slide that began last week when the market became less optimistic that OPEC's efforts to restrict output would reduce a global oil glut amid swelling US. supplies.

Gold prices are little changed as the prospect of an imminent interest rate rise keeps them near the five-week lows touched last week, while elections in Europe create uncertainty and fuels investor buying.

US stocks ended little changed in light volume on Monday, with traders eyeing a Federal Reserve meeting expected to result in an interest rate increase later this week.

The Australian share market has closed lower after suffering widespread losses across the financials, healthcare and retail sectors and a sharp sell-off in energy companies.

The incoming Labor government is already warning Western Australians the state's record debt pile could take decades to overcome.

Premier-elect Mark McGowan says his ministry will be a mix of experience and youth, and has again indicated he'll have the final say in its makeup.

Western Australia's Liberal MPs are considering a new leader to replace Colin Barnett after the weekend's crushing election defeat.

The Australian share market is off to a weak start, despite gains on Wall Street on Friday, as investors turn nervous ahead of key global macro-economic and political events later this week.

The Australian dollar is higher against its US counterpart which weakened following a US jobs report that failed to meet elevated expectations.

Oil have again skidded again, pushing prices to three-month lows as investors continue to flee bullish positions on worries that OPEC-led production cuts have not yet reduced a global glut of crude.

Gold has recovered from an early drop to five-week lows after a US non-farm payrolls report for February failed to meet elevated expectations, prompting a drop in the US dollar and Treasury yields.

Malcolm Turnbull insists nurses and police officers aren't next in line for a cut in their penalty rates.

The Australian share market has closed higher with most sectors in positive territory ahead of the release of key US employment data.

Pauline Hanson has fended off claims her Western Australian One Nation team is in disarray on the eve of the state election.

Australian shares are stronger, driven by healthcare, banking and consumer-related stocks following a steady finish on Wall Street.

The Australian dollar is down fractionally against its US counterpart ahead of domestic housing finance data.

Gold has fallen for the sixth straight session, reaching a five-week low, with analysts expecting further losses as investors become increasingly certain that US interest rates will rise this month.

Oil prices have slid nearly 3 per cent, extending the previous session's dive that brought prices to the lowest levels this year, as record US crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.

The share market has lost ground for a second straight day as investors dumped resource and energy stocks following a drop in iron ore and oil prices.

The competition watchdog has rejected a proposal by insurers to cap commissions paid to car dealers selling their add-on policies.

ANZ Banking Group says it will try to find new jobs for the approximately 180 employees at its share trading business that has been sold to UK-listed CMC Markets.

Premier Colin Barnett has taken aim at Labor leader Mark McGowan, accusing him of being cheap and tacky over a proposal to sell stadium naming rights.

Relations between the Western Australian government's alliance partners have hit rock bottom, after the Nationals WA attacked the Liberals over plans to cut $800 million out of its prized Royalties for Regions program, calling it a "final betrayal".

Rio Tinto chairman Jan du Plessis has confirmed he will retire from his post, ending a term of more than eight years at the head of the Anglo-Australian miner, to become chairman of UK telco giant BT Group.

The local share market has opened lower as energy and resource stocks get pulled lower by slumps in oil and iron ore prices.

The Australian dollar has slipped against its US counterpart, which lifted as strong US payrolls data underlined expectations of a lift in US interest rates.

Gold prices extended losses to a five-week low on Wednesday as the dollar gathered strength on the prospect of a U.S. interest rate hike.

Oil prices plunged 5 per cent to their lowest levels this year on Wednesday as U.S. crude inventories surged much more than expected to a record high, stoking concerns a global glut could persist even as OPEC tries to prop up prices with output curbs.

The share market has closed relatively steady after stronger-than-expected Chinese drove a recovery from early losses.

Attorney-General George Brandis won't be releasing legal advice drafted in relation to the Bell Group litigation.

BHP Billiton has reaffirmed its optimistic view on oil markets as it seeks to invest further in the sector amid a steady recovery in prices.

Treasury costings of the Liberal Party’s campaign promises have shown the estimates to be reasonable, with the Liberal's plan showing the state getting back to a small surplus in 2019-20.