Oil & Gas

Oil retreats as Trump tweets ahead of OPEC

Oil prices eased, pulling back after US President Donald Trump urged OPEC to increase production at its meeting in Algeria, and slowing bullish momentum that had previously propelled the market toward four-year highs.

Oil up as drawdown adds to supply concerns

US oil futures surged nearly two per cent as they were bolstered by a fifth weekly crude inventory drawdown and strong domestic petrol demand amid ongoing global supply concerns over US sanctions on Iran that come into force in November.

New LNG projects ahead of schedule

The LNG train is warming up its engines, as two major players gear up for another round of project investment.

Oil rises on signs OPEC won't boost output

Oil futures rose more than one per cent on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia signaled an informal target near current levels.

Oil price flat amid US-China tensions

Oil prices were little changed as the market weighed deepening trade tension between the US and China that is expected to dent global crude demand and potential supply tightening due to Iran sanctions.

Oil price mixed amid US-China tariff talk

Oil prices pulled back on concerns additional US tariffs would be placed on Chinese imports, after an earlier rally triggered by worries that more sanctions on Iran might constrict supply.

Oil suffers steepest drop in a month

Oil prices have fallen more than two per cent, with Brent slipping back from four-month highs as investors focused on the risk that emerging market crises and trade disputes could dent demand even as supply tightens.

Decmil wins $150m QGC contract

Osborne Park-based Decmil Group has won a $150 million contract extension to provide upstream services in the Queensland coal seam gas space.

Brent crude reaches $US80 a barrel

Oil futures have risen, with Brent reaching $US80 a barrel, after a larger-than-expected drop in US crude inventories and as US sanctions on Iran added to concerns over global oil supply

ACCC approves $13bn APA takeover

The competition watchdog has approved a Hong Kong consortium's $13 billion takeover bid for APA Group, Australia's biggest gas pipeline company, on the proviso that four major assets in Western Australia are sold to new owners.

Oil prices steady as equity markets weigh

Oil prices are steady, with US crude slipping on weak global equity markets while Brent inched up on geopolitical factors, including violent protests in Iraq.

Crude pulls back on rising US stockpiles

Crude futures have reversed course, falling more than one per cent after US data showed petrol inventories rose unexpectedly last week, overshadowing a bullish drawdown in crude.

Oil prices fall as demand concerns mount

Oil prices fell more than one per cent after a US Gulf storm weakened and moved away from oil-producing areas and concerns mounted about global trade disputes and Turkey's currency crisis hurting demand.

Oil steady as Storm Gordon enters US Gulf

Oil prices were little changed as energy infrastructure on the US Gulf Coast braced for a hurricane, but gains were capped as a stronger dollar and report of rising stockpiles at the Cushing, Oklahoma hub weighed.

Oil price up as US sanctions loom for Iran

Oil prices have risen, supported by concerns that falling Iranian output will tighten markets once US sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.

Oil prices slip amid trade war worries

Oil prices have slipped, pressured by renewed concerns that a global trade war could dent energy demand, although impending US sanctions on Iran and falling Venezuelan output limited the decline.

Crude oil rises amid sanction concerns

Oil prices rose on Thursday to the highest in more than a month, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in US inventories.

Oil rises as US stocks, Iran exports fall

Oil prices have risen more than one per cent, with Brent at its highest in seven weeks and US crude touching a three-week peak, supported by a drawdown in US crude and petrol stocks and reduced Iranian crude shipments as US sanctions deter buyers.

Oil prices dip on profit-taking

Oil prices have slipped as some investors take profits on recent strong gains, but losses were limited the day after a US-Mexico trade agreement eased worries about tensions between the two countries.

Oil gains after US-Mexico trade deal

Oil prices have edged up, supported by a strengthening equities market and news that the United States and Mexico agreed to overhaul the North American Free Trade Agreement (NAFTA).

Govt seeks World Heritage listing for Burrup

The state government has formally commenced seeking a UNESCO World Heritage listing of the Burrup Peninsula, which is home to some of WA’s largest industrial facilities and signalled any new projects will need to meet the highest environmental standards.