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Oil prices fell overnight to their lowest level since December 2018 on weaker Chinese demand in the wake of the coronavirus outbreak and as traders waited to see if Russia would join other producers in seeking further output cuts.
Oil prices fell 1 per cent on Friday as Russia said it needed more time before committing to output cuts sought by other large producers while the coronavirus outbreak fanned worries about global crude demand.
Airbnb says 4.5 million people booked rooms on its online lodging platform in regional Australia last year, with 260,000 guests visiting regional Western Australia, confirming the widespread uptake of its accommodation services.
The Reserve Bank has kept its word and left its growth forecast unchanged through to the end of the year, while continuing to insist the GDP hit from bushfires, drought and coronavirus outbreak will be short-lived.
Oil futures gave up early gains overnight as OPEC and its partner Russia gave mixed signals about possible further output cuts to mitigate the impact of the coronavirus outbreak that has amplified concerns about weak global oil demand.
Oil prices have jumped about two per cent on media reports that scientists were developing a vaccine for the fast-spreading coronavirus, even as world health experts said treatments have not yet been found.
Gold rose on Wednesday on bargain hunting, reversing course from a two-week low touched earlier, as investors latched on to the metal's overall uptrend on the back of a low interest rate environment globally and lingering uncertainties.
Woodside Petroleum has deferred a final investment decision on the giant Browse gas project as it deals with the complexity of the planned development and unresolved commercial differences with its partners.
Fortescue Metals Group has reported a near four-fold jump in first-half profit as it cashed in on higher iron ore prices, while analysts said a lower than expected dividend reflected caution on the global economy.