The Australian dollar is lower against a weakened US dollar and the other major currencies, while market risk sentiment has flipped from upbeat to downbeat when Wall Street opened with no obvious reason.
Global benchmark Brent crude has surged nearly $US2 a barrel, lifted by concern about a steep drop in exports from Venezuela and worries OPEC may not raise production at its June meeting.
US dollar weakness has helped boost gold prices, but gains were limited as the market awaited clues from next week's meeting of the Federal Reserve on the pace of US interest rate rises.
BN 25th Anniversary series- WA has been slow to introduce private ownership to some state industries, although a series of moves during the Court era generated benefits, according to one prominent WA economist.
Oil prices have fallen on worries that global supply is climbing after US inventories rose unexpectedly and Saudi Arabia and other big producers signaled that they may increase output.
Gold prices have stayed steady, see-sawing in a narrow range as a weaker US dollar and trade tensions provide support but investor anticipation of a US rate hike next week weighs on prices.
Western Australia has recorded its first year-on-year economic growth in more than four years, while the national economy expanded 1 per cent in the March quarter, official figures show.
Brent crude have reversed losses, after hitting its lowest price in nearly a month following a report the US government asked Saudi Arabia and other major exporters to increase oil output.
Gold prices have risen as the US dollar has retreated slightly from close to a six-month high even as strong US economic data sealed the case for the US Federal Reserve to increase interest rates.
The Reserve Bank has left the cash rate unchanged at 1.5 per cent for a 22nd consecutive month, as it waits for job growth and an improving economy to deliver a boost to wages and inflation.
The Australian dollar has continued to climb against its US counterpart after positive retail sales figures boost the local currency and as the US dollar index falls.
Oil prices have fallen about two per cent, with US crude touching its lowest level in nearly two months, breaking below technical support levels as investors keep selling amid growing US production, possible global supply growth and nagging trade tensions.
US stocks rose on Monday led by gains in technology shares and Friday's robust jobs data, which gave investors heightened confidence that the US economy remained strong.
US oil fell nearly two per cent, despite a larger-than-expected decline in US crude inventories, while global benchmark Brent was little changed, pushing the spread between the two to its widest in more than three years.
US stocks have fallen after the US moved to impose tariffs on metal imports from Canada, Mexico and the European Union, prompting retaliatory measures from some of its trading partners.
The background of WA Labor's latest candidate for Darling Range has been extensively scrutinised, the premier says, after the party's last MP and a parliamentary hopeful for the state seat proved to be embarrassments.
An animal welfare group has been granted access to Fremantle harbour to observe livestock loading in a move that has been criticized by industry groups.
Gold prices edged higher on Wednesday as the US dollar wilted after data showed the US economy slowed slightly more than initially expected in the first quarter while political uncertainty lingered in Italy.
Oil prices surged on Wednesday, shrugging off an unexpected build in US crude stockpiles and rebounding from a four-day slump as Russia's central bank expressed caution on plans to boost oil supply.
The Australian dollar is three-quarters of a US cent higher after US stocks rose more than one per cent, amid hopes there might be a solution to the Italian political crisis.
