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Oil prices have edged higher, with US crude touching its highest since December 2014, supported by OPEC-led production cuts and expectations that US crude inventories have dropped for an eighth week in a row.

Gold has edged lower, weighed down by a stronger US dollar on the back of concerns about political uncertainty in Europe, while a buoyant stock market also drained enthusiasm for bullion.

The Australian dollar has slipped a little against its US counterpart which has strengthened to a one-week high against a basket of six major currencies.

Oil prices are little changed, trading near their highest since May 2015, as political concerns in some OPEC nations offset projections for higher US oil production.

Gold has edged lower, retreating further from last week's 3-1/2-month high as the US dollar regained some ground against the buoyant euro and traders bet on further US interest rate hikes after Friday's payrolls data. The dollar, which has remained weak after its biggest annual drop since 2003, had helped to lift assets priced in the US currency, with gold last week registering a fourth straight weekly gain for the first time since April.

Former Rio Tinto executive Denise Goldsworthy and former Water Corporation chair Eva Skira have been appointed directors of Western Power, replacing Sharon Warburton and George Cash.

City of Perth Lord Mayor Lisa Scaffidi says she is focused on diversifying the city’s economy away from the mining industry as she returns to work after a four-month absence.

The Australian dollar is comfortably higher against a US dollar that has strengthened despite slightly amid weaker-than-expected US jobs data.

Oil prices have dropped from highs last seen in 2015, as soaring US production undermined a 10 per cent rally from December lows that was driven by tightening supply and political tensions in OPEC member Iran.

Western Australian merchandise exports were up 22 per cent in the year to November compared with the previous corresponding period, despite the month being slightly softer, according to the Australian Bureau of Statistics.

The number of electricity users disconnected for failing to pay bills increased around 60 per cent in Western Australia in the 2017 financial year, while more than 10,000 electricity users were on a hardship program, according to a report released by the Economic Regulatory Authority today.

The state government has announced a new board to run the Metropolitan Redevelopment Authority and LandCorp in the lead up to their planned merger, with just one board member from the MRA continuing on the new body.

Gold prices have risen for a fourth straight session to reach a two-week high as US data showing solid home sales but a fall in mortgage applications pushed the dollar to a two-week low.

The Australian dollar is slightly higher against the greenback after the US tax reform bill - which will slash US company taxes - was passed by the US Senate.

The state government has revised its budget deficit for the current financial year to a record $2.6 billion but insists the budget outlook has improved while also confirming it has added Landgate to its list of potential asset sales.

Wyatt eyes sale of property data

Downer EDI has been awarded a $400 million contract to provide mining services at the Gruyere Gold Project in Western Australia.

Gold has dipped as US Treasury yields rose on an uptick in housing starts for November and even though the US dollar fell, a factor that generally supports gold.

The Australian dollar is slightly lower against a stronger but pretty subdued US counterpart ahead of the expected Congressional vote on the Republicans' tax reform package.

Oil has edged up towards $US64 a barrel, helped by a North Sea pipeline outage, OPEC-led supply cuts and expectations that US crude inventories had fallen for a fifth week.

Christian Porter, Matthias Cormann and Michaelia Cash were among the winners from a reshuffle of the federal government ministry announced today by prime minister Malcom Turnbull.

The Australian dollar has crept a tad higher against its US counterpart.

Oil prices have edged higher, supported by a North Sea pipeline outage and a workers' strike in the Nigerian energy industry.

Gold has edged higher as uncertainty over US tax legislation weighed on the US dollar, while an analyst said bullion might face renewed headwinds early next year. Platinum rose 2 per cent as investors recovered short positions.

SPECIAL REPORT: Chris Ellison’s astute commercial achievements placed him at the top of our short list of nine people contending to be person of the year.

The Australian dollar has slipped against its stronger US counterpart as support firms for the Trump administration's tax reform bill.

Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing US output and weak gasoline demand kept a lid on gains.

Gold prices clung to earlier gains and were poised for their first weekly gain in four weeks on Friday, withstanding pressure from strong equities markets on continued support from this week's interest rate rise by the Federal Reserve.

The state government is facing its first major personnel crisis, and the opposition is keen for a win.

Former Premier Colin Barnett has called time on a nearly three decade parliamentary career, which included leading the Liberal Party to a surprise victory in 2008, and heading a government which increased social support spending and invested substantially in infrastructure.

The Australian dollar has extended the gains it made on better-than-expected jobs figures to be higher still against a stronger US dollar.

Gold has dipped slightly, easing off a one-week high as the US dollar rebounded following strong US retail sales data, while palladium rose to its highest since February 2001.