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Oil prices have eased after Brent touched $US75 per barrel for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market's ability to rally further.
Oil prices have hit their highest in about six months as sources said Gulf OPEC members were ready to raise output only if there was demand before offsetting any shortfall following a US decision to end waivers for buyers of Iranian crude.
Automotive Holdings Group has urged shareholders to sit tight on a $2.42 billion takeover offer from rival vehicle retailer AP Eagers, warning they may be disadvantaged if they agree to sell before the “highly conditional” deal is approved.
Crude oil jumped almost three per cent Monday after the United States said it would take more steps to choke off Iranian oil exports, while US equities were mixed as Wall Street braced for corporate results in a busy earnings week.
An independent candidate for former foreign minister Julie Bishop's safe seat claims she is the victim of a "supposed hoax" involving fake opinion polling data and has refused to pull out of the election race.
BHP Group will retain its Nickel West business, with a potential expansion of the company's WA nickel operations likely to generate a higher return, with higher risk, than the Scarborough LNG development.