Oil prices have settled more than one per cent lower after rising stockpiles of crude and refined fuel intensified fears another major glut was building up.
Gold has fallen as much as one per cent as Wall Street hovered near record highs and investor jitters calmed following a failed coup attempt in Turkey.
Wall Street has closed slightly higher to mint new record highs for the S&P 500 and the Dow industrials, fuelled by Bank of America's better-than-expected profit and a major tech sector acquisition.
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Oil prices have extended gains after Turkey's armed forces said they'd taken power in the country, igniting concerns about potential disruptions to shipments along one of the world's busiest shipping routes.
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Expectations of more economic stimulus from central banks and better-than-expected Chinese economic growth figures have helped lift the Australian share market to its highest level in 11 months.
Financial stocks have led the S&P 500 and the Dow industrials to record highs after JPMorgan's strong quarterly results, while upbeat economic data cemented bets that the current rally on Wall Street can chug along.
Oil prices have risen close to two per cent as traders cover short positions a day after crude futures were hammered by data showing weak US fuel demand in a busy summer driving season that heightened fears about a global oil glut.
Gold has risen one per cent, recovering from its lowest in nearly two weeks, as prospects for further economic stimulus helped to bolster investor appetite while the US dollar remain flat.
US stocks have ticked up, just enough for the S&P 500 and Dow industrials to set record highs, with investors expecting upbeat earnings to keep the rally going.
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The Australian share market has closed moderately higher, and is up for the fifth straight session, as concerns over Brexit ease, but investors are cautious.
Oil prices have surged five per cent, as investors' covering of short positions and a technical rebound helps lift the market from two-month lows, before dropping back.
Gold has seen its biggest one-day fall in three weeks as global equities rallied on easing political uncertainty in Britain and hopes for more economic stimulus, which in turn curbed demand for assets perceived as safe havens.
The Australian share market has closed slightly higher, led by financial heavyweights and mining giant BHP Billiton following a record close on Wall Street.
