Government

Oil prices have dipped in a volatile session buffeted by conflicting statements from oil ministers a day ahead of OPEC's meeting in Vienna, as members debate the path for an extension of the group's supply-cut agreement.

Gold prices have fallen, as global stocks hover near record highs making the safe-haven asset less attractive, and upbeat US growth data prompt an earlier rise in the US dollar and US Treasury yields.

A new report has challenged the accepted wisdom that Western Australia has a boom-bust economy that rises and falls on the back of the resources sector.

Embattled MP Barry Urban has quit the WA Labor Party amid a scandal over the legitimacy of his CV, but still wants to represent the Darling Range community.

The state government has moved to terminate a state agreement with Mitsubishi Corporation and Buru Energy that was enacted in 2013 when there were high hopes that fracking in the Kimberley’s Canning Basin would lead to development of major onshore gas projects.

Treasurer Ben Wyatt says the state government will drop its proposal for a gold royalty hike after a revised plan was blocked in the Legislative Council last night.

The Australian dollar has fallen against its US counterpart which rebounded overnight following a mix of positive data and a confirmation hearing for US Federal Reserve chair nominee, Jerome Powell.

Oil prices have eased, weighed down by uncertainty over the outcome of an OPEC meeting this week at which an extension to its price-supporting oil output cuts will be discussed.

The Australian dollar is hardly changed against its US counterpart which again fell in the offshore session as traders braced for the resumption of deliberations on the US tax plan and the confirmation hearing for Federal Reserve governor Jerome Powell as the central bank's next chair.

Oil prices have fallen one per cent with US crude easing from two-year highs on prospects of higher supply, and uncertainty about Russia's resolve to join in extending output cuts ahead of this week's OPEC meeting.

Gold prices have lifted, buoyed by a weaker US dollar, as investors look ahead to congressional testimony by the nominee to chair the US Federal Reserve and a meeting between US president Donald Trump and Senate Republicans on tax reform.

The Australian dollar is unchanged against its US counterpart, which was fallen to a two-month low as investors grow optimistic about the strength of the euro zone's recovery and lose their appetite for the greenback.

US oil prices have hit their highest levels in more than two years on Friday after the continued shutdown of a pipeline running from Canada to the United States was expected to reduce supply into a major storage facility.

Gold prices have dipped as some investors lock in profits at the end of the week, and risk appetite strengthened, but expectations hovered that gold prices could move higher next week.

Environment Minister Stephen Dawson has endorsed the environmental watchdog’s rejection of Mineral Resources’ Jackson 5 and Bungalbin East iron ore project, however, the government is yet to make a final decision on the proposal.

US crude has hit a two-year high in thin trade as the shutdown of a major crude pipeline from Canada and a draw on fuel inventories pointed to a tightening market, despite rising output from US producers.

The Australian dollar is higher against its US counterpart which has sustained further losses as investors trim bets on the outlook for US interest rate rises in 2018.

Gold prices have steadied to trade nearly flat after rising nearly one per cent in the previous session as the dollar extended its swoon amid reduced expectations for US interest rate hikes next year.

The state government has approved design alterations to the Swan River pedestrian bridge in an attempt to cut $4 million in construction costs, while also announcing further delays to the bridge’s opening date.

Western Australia's premier food and wine event, Margaret River Gourmet Escape, will be held in its current form for just one more year, with the state government planning a reconfigured event that includes the Swan Valley in 2019.

The Australian dollar has surged nearly half a cent is back above 76 US cents after the US dollar, along with Wall Street equities, fell following disappointing US durable goods data and the Federal Reserve chief's dovish commentary.

Oil has pared gains after US crude stockpiles fell less than an industry group's expectations, but remained near a two-year high as the shutdown of one of the largest crude pipelines from Canada cut supply to the United States.

Gold prices have risen amid a falling US dollar on technical factors and weak US economic data.

The state government has announced a progressive merger of its two land development agencies, LandCorp and the Metropolitan Redevelopment Authority, with the property industry calling for the new agency to retain the planning approvals powers held by the MRA.

The Australian dollar has recovered some ground against its US counterpart, which was weaker against major currencies and after the central bank governor reiterated confidence in the interest rate trajectory.

Oil edged up on Tuesday, supported by expectations that OPEC and other producing countries next week would extend output cuts, but signs of higher U.S. crude output kept prices under pressure.

Gold bounced up slightly on Tuesday, as a weaker U.S. dollar gave bullion a boost after the previous day's sharp decline and as investors awaited the minutes, due on Wednesday, of the Federal Reserve meeting held in November.

Treasurer Ben Wyatt has announced details of a new gold royalty increase that is budgeted to raise $332 million over four years while seeking to address the industry concerns that killed off his previous proposal, but the new plan has failed to win support.

The Reserve Bank remains doubtful about the timing of a return to meaningful growth in wages and a boost to stagnant inflation.

PM flags tax cuts for battlers

The Australian dollar is lower against a slightly strengthened US dollar as some risk sentiment unexplainably returns to the markets.

Oil prices have fallen, extending recent weakness ahead of next week's OPEC meeting, while a rally in the US dollar hurt commodities across the board.