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.
US stocks have fallen, led by declines in technology and consumer discretionary stocks as investors looked to President Donald Trump's announcement regarding tariffs on $US200 billion of Chinese imports.
US stocks have ended little changed as financials rose with bond yields, while news that President Donald Trump instructed aides to proceed with tariffs on about $US200 billion of Chinese products limited gains.
Six female prison officers, who either quit or were sacked from Acacia Prison in Wooroloo WA for having "inappropriate relationships" with inmates, have been referred to the Western Australian Corruption and Crime Commission.
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.