AAP

Oil prices have risen close to two per cent as traders cover short positions a day after crude futures were hammered by data showing weak US fuel demand in a busy summer driving season that heightened fears about a global oil glut.

A long-awaited state government report on the future of remote indigenous communities doesn't overtly refer to closures controversially flagged in late 2014, but promises to direct funding towards 10 of the biggest.

The share market has closed higher for a sixth straight session as investors see better value in the equity market than in bonds.

Brazilian federal prosecutors say they have opened an investigation into alleged environmental crimes by Roberto Carvalho, chief executive of BHP Billiton co-owned company Samarco Minerao SA, over a deadly damburst last year.

Iron ore miner Fortescue Metals Group has topped its full-year production guidance of 165 million tonnes.

Woodside Petroleum has agreed to buy ConocoPhillips' stake in three deepwater oil blocks off the coast of Senegal for $US350 million ($A460 million).

The Australian share market is up for a sixth straight day, supported by retail and financial companies, plus biotech giant CSL.

Gold has risen one per cent, recovering from its lowest in nearly two weeks, as prospects for further economic stimulus helped to bolster investor appetite while the US dollar remain flat.

US stocks have ticked up, just enough for the S&P 500 and Dow industrials to set record highs, with investors expecting upbeat earnings to keep the rally going.

The Australian dollar is slightly higher on the back of mixed Chinese trade data and ahead of the release of Australia's official June jobs report.

The Australian share market has closed moderately higher, and is up for the fifth straight session, as concerns over Brexit ease, but investors are cautious.

Dick Smith's management focused on increasing revenue at the expense of sustainable growth, administrators for the failed electronics retailer says.

The Australian share market has opened higher.

Oil prices have surged five per cent, as investors' covering of short positions and a technical rebound helps lift the market from two-month lows, before dropping back.

Gold has seen its biggest one-day fall in three weeks as global equities rallied on easing political uncertainty in Britain and hopes for more economic stimulus, which in turn curbed demand for assets perceived as safe havens.

The Australian dollar is higher as improved risk appetite sweeps global markets.

The Australian share market has closed slightly higher, led by financial heavyweights and mining giant BHP Billiton following a record close on Wall Street.

Indian business couple Pankaj and Radhika Oswal paid two advisers $US26 million ($A34.5 million) in hush money to hide what was really going on at their Australian fertiliser business, a court has heard.

Optus will refund $2.4 million to around 175,000 of its mobile phone insurance customers for failing to properly advise them about the product they'd bought.

The Australian share market has opened half a per cent higher.

The Australian dollar is weaker after global central banks signalled a new round of money printing.

Oil prices have fallen more than one per cent, hitting two-month lows on extended selling after the market's break below a key technical support level last week due to oversupply fears.

Gold has fallen as stock markets rally on the back of Friday's stronger-than-expected US jobs data and the prospect of more monetary stimulus from central banks, while the US dollar rose against a basket of currencies.

The Australian share market has closed around 2 per cent higher at a four-week high in the wake of a strong lead from US markets, more clarity over the recent federal election result, and the prospect of economic stimulus in Japan.

The Australian share market has opened higher.

Crude prices have inched up in choppy trading but Brent has notched its largest weekly drop in nearly six months, as strong US jobs data and bargain hunting by investors pitted against seasonally weak consumption of oil.

Gold has slipped sharply after stronger-than-expected US payrolls data for June but rebounded quickly, underpinned by concerns over the outlook for financial markets following Britain's Brexit vote.

The Australian dollar is stronger after the coalition's declaration of election victory offset a greenback rally.

The share market has closed relatively steady as investors await the release of key US jobs numbers.

A government body has slashed its 2017 iron ore price forecast by nearly 20 per cent on expectations of slowing demand growth in an oversupplied market, underlining the threat to the federal government's finances.

Perth-based gold producer Silver Lake Resources is bullish after hitting its annual sales target and repaying all its bank debt.

Malcolm Turnbull will be returned as prime minister, according to renowned election analyst Antony Green, as postal vote flows strongly favour the coalition parties and three lower house independents have offered him supply and confidence.