Oil has fallen nearly 3.0 per cent, with US crude futures hitting lows not seen since April, due to growing concerns that global demand is weakening at a time when output from the world's major oil producers is surging.
US stocks have risen for a third straight session as President Donald Trump said trade talks with China were "moving along nicely," reviving hopes that the two countries can resolve their trade dispute.
Gold rose nearly 2.0 per cent overnight, bouncing off a three-week low touched in the previous session as the dollar fell sharply from recent highs, making the metal cheaper for holders of other currencies.
A national study by Infrastructure Australia has found that Perth residents are among those least likely to use public transport for their daily work commute, despite good accessibility in outer suburbs and subsidies covering about 70 per cent of the cost of a trip.
Perth’s annual inflation rate has hit its highest mark in nearly three years, driven by rising electricity prices in the September quarter, according to the latest data from the Australian Bureau of Statistics.
Dredging a second channel into Garden Island and major road upgrades could be priorities in a Henderson precinct master plan to be drafted by the state government in 2019, while Defence Minister Chris Pyne today announced a new $200 million vessel will be built at the yards.
Oil prices have edged lower, with futures on track for the worst monthly performance since mid-2016, after Russia signalled that output will remain high and as concern over the global economy fuelled worries about demand for crude.