Oil prices retreated further overnight, adding to sharp losses in the previous session as the market shifted focus toward rising US crude stocks and away from worries about the conflict between the United States and Iran.
OPINION: WA again stands to be the beneficiary of trouble elsewhere, with local producers of lithium, gold, iron ore and hydrocarbons the likely winners.
Andrew and Nicola Forrest's Minderoo Foundation has committed $70 million to Australia's bushfire response, far exceeding the contributions made by big companies across the country.
Contract Power Group plans to build a new power station at Esperance after Horizon Power awarded the Perth company a 20-year power purchase agreement for the supply of electricity to the town.
Rio Tinto has formed a joint venture with Antipa Minerals after investing $11 million in exploration expenditure for the Citadel copper-gold project, located in the prospective Paterson Province.
Australia's trade surplus widened to $5.8 billion in November, with the 42 per cent increase fuelled by higher mining exports and a likely weakening of domestic demand.
The West African nation of Senegal has authorised its first oil development, the $US4.2 billion Sangomar offshore oil project, operator Woodside Petroleum has announced.
Zinc prices overnight hit the highest point in nearly eight weeks as fears of further Iran-US military escalation eased, while concerns about short-term supplies of the metal, mainly used for galvanising steel, increased.
Oil futures fell more than four per cent overnight in a wild swing, soaring close to a four-month high in early trade on an Iranian rocket attack on US forces in Iraq before retreating as the countries ratcheted back tensions.
Gold shed more than one per cent overnight after vaulting above the $US1,600 level for the first time in nearly seven years after US President Donald Trump's comments eased fears of a larger conflict with Iran.
The Western Roads Federation has called for truckies to be included in the federal goverment's business assistance package, as it emerged today the two-week closure of the Eyre Highway would continue after bushfires were upgraded to emergency level.
Pindan will undertake property and maintenance services for Yara Australia in the Pilbara for the next five years, under a contract worth $7.5 million.
The Australian share market has bounced back from its sharp morning losses as it become apparent that an Iranian missile attack on US forces in Iraq had not caused casualties.
Kununurra and Mandurah could be hubs for renewable hydrogen production, while the gas could be blended with natural gas already supplied through the state's main transmission pipeline, as part of a series of projects revealed today.
Engineering group Monadelphous has secured several new construction and maintenance contracts, including three with BHP, worth a combined value of around $110 million.
Gulf Manganese Corporation has secured further funding for the construction of two smelting hubs in Indonesia, with €52 million ($A84 million) expected to be received later this month.
Independence Group's Nova and Tropicana mines in Western Australia have achieved strong preliminary results, with first-half metal production exceeding guidance by around 9 per cent and 10 per cent respectively.
Mineral Commodities will move to 90 per cent ownership of the Munglinup graphite project in Western Australia after striking a deal worth $9.8 million with joint venture partner Gold Terrace. It comes after completion of a definitive feasibility study that put a $US61 million cost on the project.
Caltex Australia says it has been approached by a number of parties about a potential acquisition, but so far the only formal takeover offer it has received is the one made in November by a Canadian retail chain.
A $180 million project to house up to 2,500 fly-in, fly-out workers for the expansion of Woodside Petroleum's Pluto LNG plant was approved by the local joint development assessment panel in December.
Oil prices fell almost one per cent overnight, surrendering some recent gains as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed an Iranian military commander last week.
Gold prices inched higher overnight, having earlier retreated from the previous session's almost seven-year high as fears of a larger Middle East conflict following the US killing of a top Iranian general eased.
Insurers have promised to act quickly on claims made by bushfire victims, with companies told to prioritise local tradespeople when they start paying out for rebuilds.
Perth companies Emerald Clinics and Little Green Pharma are seeking to raise up to $18 million ahead of stock market listings as they pursue very different strategies in the medicinal cannabis market.
The Australian share market has enjoyed its best day in three weeks, with every sector gaining as weak economic data was seen to boost the odds of a February cash rate cut.
