US crude has tumbled nearly three per cent on Wednesday, its biggest daily decline in more than two months, after a sharp rise in US inventories of refined fuel suggested demand may be flagging, while US crude production hit another weekly record.
The Australian dollar has slipped against its US counterpart which has continued strengthening amid optimism for US tax reform, lawmakers' efforts to avert a government shutdown.
A further reshuffling of state government departments appears likely after Treasurer Ben Wyatt released the government's service priority review today.
The auditor general has found major flaws in the state government’s Buy Local policy, with concerns regarding data collection leaving agencies unsure if the policy is benefitting local businesses.
The Australian economy expanded at a slower-than-expected rate in the three months to September, however WA’s domestic economy appears to be on the mend, growing 0.9 per cent for the quarter.
Gold has dropped one per cent to a two-month low as the US dollar rises against a basket of currencies and US stocks rebounded as investors assessed details of the US tax overhaul legislation.
The Reserve Bank has left the cash rate unchanged at 1.5 per cent, with the central bank remaining concerned about sluggish spending and wages growth despite an improving jobs market.
Oil has fallen more than one per cent on on profit-taking as the market eyed signs of rising US production, though prices remained close to recent two-year highs thanks to last week's decision by OPEC and other producers to extend output cuts.
Gold prices have fallen toward the four-week lows hit last week as the US dollar has strengthened after the US Senate approved a major tax overhaul and the market looked ahead to a meeting of the Federal Reserve later this month.
The Australian dollar is back above 76 US cents after news that former Trump security adviser Michael Flynn had pleaded guilty and was prepared to testify against the US president regarding Russian involvement in the presidential election dented market sentiment.
Gold has jumped as the dollar and US stocks fell on an ABC news report that former national security adviser Michael Flynn was prepared to tell investigators that Donald Trump directed him to make contact with Russians during last year's presidential election campaign.
The opposition parties in Perth and Canberra are kicking the can down the road on debt, despite the parlous state of their respective budgetary positions.
Lord Mayor Lisa Scaffidi has won her court appeal against 26 adverse State Administrative Tribunal findings that she breached her gift disclosure obligations and remains hopeful of returning to the post once the matter is resolved.
Gold has dropped one per cent as upbeat sentiment on equities and positive US growth data dented the appeal of the safe-haven asset, though the metal was still stuck in its narrowest monthly range in 12 years.
The Chamber of Commerce and Industry WA has criticised the state government’s crackdown on payroll tax exemption for employees earning more than $100,000 announced today.
The Australian dollar is lower still against a weaker US counterpart which lost gains made after Federal Reserve chair Janet Yellen spoke of continued US economic expansion and GDP was revised higher.
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.
