Oil prices plunged more than 2.0 per cent overnight to their lowest since the September 14 attacks on Saudi Arabia's key oil facilities after US President Donald Trump rekindled fears the US-Chinese trade conflict that has crimped energy demand is far from over.
Gold climbed to its highest level in nearly three weeks overnight as calls for impeachment proceedings against US President Donald Trump pushed stocks into the red, with bullion getting a further boost from disappointing consumer confidence data.
Royal Automobile Club of WA (RAC) has invested into SpacetoCo through BetterLabs Ventures, the third startup to be supported through the early stage venture fund.
NAB chairman Ken Henry has survived a protest vote to secure re-election to the board of the ASX despite his reputational flogging at the royal commission.
Oil ended about 1.0 per cent higher overnight after a volatile trading session as traders focused on when Saudi Arabia would be able to restore full output following the September 14 attack on its facilities.
Gold rose overnight to its highest in over two weeks as weak economic data from the euro zone stoked global recession fears and forced investors to seek refuge in bullion while palladium soared to a record on a sustained supply shortfall.
Palladium soared to an all-time high on Friday, with producers locking in stocks of the auto-catalyst metal squeezed by a sustained supply shortage while gold firmed en route to its first weekly gain in four supported by Middle East tensions.
Oil prices eased on Friday on renewed concern over the US-Chinese trade conflict but futures still posted weekly gains, with Brent marking its biggest weekly increase since January after an attack on Saudi Arabia's energy industry last weekend.
Brent crude oil prices rose more than 1.0 per cent overnight on fears of longer-than-expected supply shortfalls following Saturday's attacks on a key Saudi Arabian oil processing facility and escalating tensions in the Middle East.
Palladium peaked to an all-time high overnight while gold gained on a weaker US dollar and as investors looked for clarity on future US interest rates after the Federal Reserve on Wednesday signalled a higher bar to further monetary easing.
Oil prices retreated about 2.0 per cent overnight, extending the previous day's declines after Saudi Arabia's government said it would quickly restore full production following Saturday's attacks on its facilities and as US crude stockpiles rose unexpectedly.
Gold prices fell more than 1.0 per cent to a one-week low overnight, pulled down by a lack of clarity on future monetary policy decisions after a widely anticipated interest rate cut by the US Federal Reserve.
The Australian share market has closed lower for the first time in six days, pinned down by a slump in the energy sector as oil prices retreated from recent highs.
Oil prices tumbled about 6.0 per cent overnight after Saudi Arabia's energy minister said the country has managed to restore oil supplies to where they stood before weekend attacks on its facilities shut 5.0 per cent of global oil output.
Gold rose overnight, propped up by expectations for an interest rate cut by the US Federal Reserve, but traded within a relatively narrow range as investors awaited further clarity on the central bank's stance on future monetary policy.
The Australian share market has recovered from a lacklustre start to post gains for a fifth straight day, with every sector up aside from mining and consumer discretionary stocks.
