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.
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 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.
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.
International real estate services company Cushman & Wakefield has been appointed as facility manager of the new Woodside headquarters in Perth, with former Knight Frank director Bret Madden brought on to lead the on-site team.
The market has welcomed a strong annual profit report and positive outlook for Monadelphous, even though the engineering contractor has warned its construction revenue will fall after a big surge in work on the Ichthys LNG project in Darwin last financial year.
Global Energy Ventures is developing a plan to develop stranded gas fields in Malaysia using its floating compressed natural gas technology, after signing a letter of intent with Kuala Lumpur-based Tamarind Resources.