Government

Two tweets by Donald Trump have tanked the local bourse - along with markets around the globe - as investors worried the US-China trade war might not be so close to resolution after all.

Oil prices inched up on Friday as strong US economic data boosted demand sentiment and as production losses in sanctions-hit Iran and Venezuela tightened the market.

Gold was headed for its biggest daily rise in two months on Friday, clawing away from a four-month low hit in the previous session, helped by a pullback in the US dollar and as some investors covered their short positions.

The federal Labor opposition needs to lock down the details of its emissions policy before the impact will be clear, according to Woodside chief executive Peter Coleman, but the ability to buy international offsets will be key to keeping the cost of carbon reduction low.

OPINION: Outlying states need their MPs to step up, but ministerial experience on both sides is a bit thin this time around.

Oil plunged overnight, with US crude dropping almost three per cent as the market grappled with oversupply fears as increased US sanctions on Iran had more gradual impact than expected and US crude oil inventories rose sharply.

Gold prices slumped to an over four-month low overnight after the US Federal Open Market Committee (FOMC) axed any hopes for a rate cut in the near term, subduing demand for the non-interest bearing bullion.

Colin Barnett, Carmen Lawrence and Jennifer Lawrence are among the high profile names appointed to the UWA Public Policy Institute’s international advisory board today.

Govermment funds earmarked for a biomass energy plant and solar farm at Collie have been transferred to a new $60 million job creation fund that aims to create a long-term future for the town as coal mining winds down in coming years.

A report commissioned by ALDI has found the German supermarket giant contributed over $139 million to Western Australia’s economy in 2018.

Gold prices dropped to a one-week low overnight as the US dollar rebounded after the Federal Reserve reduced expectations of a rate cut this year, with the safe-haven metal also pressured as the central bank signalled strong economic growth.

Oil futures ended little changed overnight after supply curbs, including further talk on an extension to OPEC-led cuts, offset rising US crude inventories and record production.

Oil prices pared their gains overnight, after global benchmark Brent crude rose above $US73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Maduro would hit the country's crude exports.

Gold prices firmed overnight as the US dollar slipped to a one-week low, making bullion more attractive, with investors awaiting the Federal Reserve's interest rate decision this week to gauge the outlook for US monetary policy.

Oil prices edged higher overnight as the market attempted to resume a weeks-long rally that was halted on Friday when US President Donald Trump demanded that producer club OPEC raise output to soften the impact of US sanctions against Iran.

Palladium slumped about seven per cent overnight in its biggest daily percentage drop in more than two years while gold also fell as strong US data improved investors' appetite for riskier assets ahead of the US Federal Reserve policy meeting.

Western Australia's economy has been performing well below its long-term average but is showing signs of increasing economic momentum with growing exports and $73 billion of projects underway or under consideration, according to two new reports.

An independent candidate for former foreign minister Julie Bishop's safe seat claims she is the victim of a "supposed hoax" involving fake opinion polling data and has refused to pull out of the election race.

OPINION: Muffled by the drumbeat of election campaigning as Australia heads towards its May 18 poll is a more sinister noise, demands for a big cut in interest rates, or the dumping of “helicopter” cash on the community – or both.

Prime Minister Scott Morrison has promised 1000 shipbuilding jobs at Henderson, and opposition leader Bill Shorten has pledged $75 million towards mining exploration, ahead of their debate tonight in Perth.

Oil prices fell three per cent on Friday after US President Donald Trump again pressured the Organisation of the Petroleum Exporting Countries to raise crude production to ease petrol prices.

Gold jumped to a near two-week high on Friday as the US dollar slipped on tepid US inflation data, outweighing an overall strong first-quarter growth report.

Federal Labor is calling on Environment Minister Melissa Price to explain why she approved a controversial uranium mine in Western Australia the day before the national election was called.

Oil prices have eased after Brent touched $US75 per barrel for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market's ability to rally further.

Gold has risen to its highest in more than a week, supported by a slight retreat in the US dollar and a pullback in global equities as demand for riskier assets cooled.

Consumer confidence has hit its highest point since December after last week's strong jobs data.

Oil prices have hit their highest in about six months as sources said Gulf OPEC members were ready to raise output only if there was demand before offsetting any shortfall following a US decision to end waivers for buyers of Iranian crude.

Gold has slipped to a near four-month low as the US dollar gained and investors sought out riskier assets, dampening the safe-haven metal's appeal.

Debate around the selection of Huawei to roll out the communications network for Metronet is just an example close to home of how the western world is grappling with the rise of the Chinese company as a technology powerhouse.

South Korea should join Australia and 10 other nations in the second generation Trans-Pacific Partnership, according to Perth USAsia Centre chief executive Gordon Flake.

The state government is assessing the construction of an extra rail link over the Swan River, as part of a new Fremantle traffic bridge, after committing to the $230 million project.

Crude oil jumped almost three per cent Monday after the United States said it would take more steps to choke off Iranian oil exports, while US equities were mixed as Wall Street braced for corporate results in a busy earnings week.