Oil prices recouped some losses to end about two per cent lower on Tuesday after President Donald Trump confirmed the US will withdraw from the Iran nuclear deal in a volatile session which saw prices slump as much as four per cent.
The spot gold price is slightly higher following a brief increase on Tuesday after the US dollar backed down from a new 2018 high as worries hovered over the United States' decision to pull out of a key nuclear accord with Iran.
Two by-elections will take place in Western Australia in coming months, after a parliamentary inquiry into scandals involving Darling Range MP Barry Urban recommended his expulsion from parliament.
Oil prices rose for the fourth straight day to hit levels not seen since late 2014, boosted by the latest trouble for Venezuelan oil company PDVSA and the possibility that the United States could re-impose sanctions on Iran.
Gold prices have slipped on Monday, snapping three days of gains as the US dollar index strengthened after last week's soft US jobs data did little to dampen optimism about the world's largest economy.
The Australian dollar has made some small gains on the back of stronger US stocks that were supported by weaker than expected US jobs and wages growth.
Oil prices rose about two per cent on Friday, with US crude hitting its highest in more than three years, as global supplies remained tight and the market awaited news from Washington on possible new US sanctions against Iran.
Gold prices rose slightly on Friday as the US dollar backed off its highs, initially rising after US jobs data was weaker than expected. However the data was still strong enough to support the case for more interest rate increases.
Oil prices rose on Thursday, boosted by OPEC production cuts and the potential for new US sanctions against Iran, but gains were limited by growing US crude inventories.
Gold prices gained on Thursday, one day after the US central bank reassured investors that increases to interest rates would be gradual and as the US dollar softened, with geopolitical uncertainties also providing support.
Programmed managing director Chris Sutherland has talked up WA's economic prospects, while challenging alarmism about artificial intelligence and labour trends at a Success & Leadership breakfast this morning.
Federal Labor has effectively committed to end live sheep exports with its agriculture spokesman, Joel Fitzgibbon, telling an Adelaide radio station the party does not believe there is a future for the sector.
Less than 1 per cent of businesses paid half of Australia's corporate tax take in the year to June 2016, according to ATO data, while the financial services and resources industries were the biggest contributors.
The Australian dollar has followed Wall Street lower after the US Federal Reserve indicated that it is on track to raise its interest rate at its next policy meeting in June.
Oil prices strengthened slightly ahead of the settlement Wednesday as the Federal Reserve held interest rates steady and expressed confidence that a recent rise in inflation would be sustained.
Gold prices extended their gains on Wednesday after the US Federal Reserve's dovish remarks weakened the US dollar against a basket of currencies, yet bullion remained vulnerable to a possible rising greenback and weak investment demand.
State-owned Western Power will need to trim operating costs by about $100 million more than planned over the next five years under the Economic Regulation Authority's latest draft access arrangements released last night.
The state government has announced an additional $24 million in funding for grain industry research and development, taking the total figure to $45 million over the next four years.
Labor MP Tim Hammond has announced his resignation from federal parliament due to the job's toll on his family, with Labor's state secretary Patrick Gorman tipped to be the party's candidate at the upcoming by-election in the seat of Perth.
Oil prices slid more than one per cent on Tuesday as the US dollar remained near a four-month high, but worries that US President Donald Trump will pull out of the Iran nuclear deal underpinned the market.
Gold slid to a four-month low on Tuesday as the dollar strengthened ahead of a US Federal Reserve policy meeting that is being watched for clues on the future pace of interest rate hikes.
