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Premier backs WA jobs and end to FIFOs from interstate

Oil prices were little changed overnight as coronavirus cases increased in many countries, though a flurry of announcements about a potential COVID-19 vaccine and ongoing talks over a European Union fund to revive economies hit by the pandemic curbed losses.

Gold prices jumped to their highest level since September 2011, and silver hit a near four-year peak as a spike in COVID-19 infections and hopes for increased stimulus measures supported safe-haven demand.

The Australian share market has finished lower, with every sector except mining and technology in the red as the coronavirus outbreak creeps back into NSW.

Power play for Newmont and Northern Star

Oil prices edged lower on Friday as concerns about the surge in coronavirus cases sapping fuel demand while major crude-producing nations ready increases in output.

Gold jumped on Friday, poised for its sixth consecutive weekly gain, as a record-breaking rise in coronavirus infections in the United States fuelled uncertainly about an economic recovery, while a weaker greenback also added support.

Arrivals from Victoria face mandatory 14-day hotel quarantine at their own expense in Western Australia while travellers from NSW will be tested immediately.

The Australian share market has managed a late recovery to end the week higher, with shares in Fortescue Metals Group hitting an all-time high of $16.66.

Perth hotel numbers top nation thanks to FIFO lift

Oil prices fell 1 per cent overnight after OPEC+ agreed to ease record supply curbs and as new infections of the novel coronavirus continue to surge in the United States.

Gold fell below the key $US1,800 level overnight as the US dollar strengthened and the European Central Bank kept its monetary policy on hold, prompting some investors to lock in profits.

The Federal Court has ordered private health insurer Medibank to pay $5 million in penalties for making false representations to customers.

The Australian share market has closed lower as Victoria reported the most coronavirus cases since the start of the pandemic and the country's unemployment rate hit a two-decade high.

Gold prices edged up overnight, holding above the key $US1,800 level, as a surge in coronavirus cases and simmering US-China tensions bolstered safe-haven demand, but a strong equities market capp

Oil prices rose 2 per cent on Wednesday, supported by a sharp drop in US crude inventories, but further gains were limited as OPEC and its allies are set to ease supply curbs from August as the global economy gradually recovers from the coronavirus pandemic.

Woodside eyes escape from NW Shelf stall

The local bourse has enjoyed its best day in nearly a month, with all sectors posting gains as investors looked past worries about a resurgence in coronavirus cases.

More than 200,000 Brazilian people and groups will next week kick off a £5 billion ($A9 billion) lawsuit against Anglo-Australian miner BHP in Britain over a 2015 dam failure that led to Brazil's worst environmental disaster.

Fracking plans to test political waters

Oil prices rose slightly overnight as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States.

Gold prices firmed above the key $US1,800 level overnight, underpinned by concerns over mounting coronavirus cases globally as many regions reintroduced curbs to restrict the outbreak.

The Australian stock market has closed lower, dragged down by weakness in technology stocks after a stellar run.

A waste recycling company in Bayswater has been found guilty of gross negligence following an incident that left one of its workers maimed.

Business insolvencies in April were at their lowest in almost a decade in Western Australia, suggesting emergency COVID-19 provisions for directors had a major impact.

JobKeeper could send firms broke

Oil prices slipped about 1 per cent overnight after global coronavirus cases rose by a record daily amount, fanning fears of renewed government lockdowns, and on growing US and European tension with China.

Gold prices firmed above the key $US1,800 level overnight, as surging US coronavirus cases boosted hopes for more stimulus measures by the Federal Reserve to cushion the economic fallout from the pandemic.

A fourth person has been charged with corruption offences in relation to a $22 million public sector rort in Western Australia.

Major moves by banks and mining companies have given the local bourse a strong start to the week even as local coronavirus cases surge.

An electrician based in North Perth has been ordered to pay more than $27,000 after having been found guilty of breaching WA’s electricity licensing regulations.

Australian shares have jumped nearly 1.5 per cent in early trade, with investor sentiment buoyed by a strong closing on the US markets last week on hopes of a coronavirus treatment.