AAP

Oil prices rose at the end of last week as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about US-China trade tensions and supply increases.

Australian shares have ended the week higher thanks to gains in financials and energy stocks, even as Friday's session was buffeted by an earlier slide in the Chinese yuan and concerns over escalating global trade tensions.

Global benchmark Brent crude dipped on Thursday as concerns about mounting supply returned after a brief rally earlier in the session on comments that Saudi Arabia's exports would fall in August.

Gold prices sank to a one-year low on Thursday as the US dollar rose after comments from Federal Reserve Chairman Jerome Powell that reaffirmed expectations more US interest rate increases are on the way this year.

US stock indexes are trading lower as a batch of weak quarterly reports dampened a robust earnings season and trade tensions rose on news the European Union may retaliate if the US slaps tariffs on EU cars.

Australian shares have closed higher on Thursday, with banks and miners leading strength though broader market gains were checked by generally subdued regional markets amid trade war worries.

After reaching a 16-year high in March, Western Australia’s unemployment rate has enjoyed its third straight month of decline, with nearly 3,000 jobs added across the state in June.

The much anticipated Browse LNG project has taken a step forward with partners arriving at an early stage agreement on pricing to pipe gas through an existing Karratha plant, while a proposed second train at Pluto LNG now looks likely to be much larger.

Gold prices have steadied as the US dollar eased off a three-week high, following an earlier drop in bullion to a one-year low as bullish comments from US Federal Reserve Chair Jerome Powell boosted the greenback.

Oil prices rose on Wednesday after US government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in US crude inventories and US crude oil production hitting 11 million bpd for the first time.

The S&P 500 is hovering at five-month highs with gains in financial and industrial stocks due to strong earnings from marquee companies offsetting losses in the technology and energy sectors.

Australian shares rose on Wednesday after global miner BHP reported record iron ore output for 2017-18, which sent its shares up over 3 per cent in a boost to peers and overall sentiment.

BHP Billiton's iron ore production rose 3 per cent in the fourth quarter ended June 30 as productivity improved, cementing a record annual output as it set a bigger target for the current year.

Bankwest is closing 29 branches along Australia's east coast and cutting 200 jobs, saying customers are increasingly using mobile banking.

Gold has fallen more than one per cent and hit its lowest in a year as the US dollar strengthened during testimony by US Federal Reserve chairman Jerome Powell to the US Congress.

Wall Street has risen as Federal Reserve chairman Jerome Powell's optimistic view on the US economy and solid earnings from Dow component Johnson & Johnson lifted expectations of a robust second-quarter earnings season.

Australian shares have closed lower on Tuesday, with a sharp decline in global oil prices sending energy stocks down and weak commodities prices putting pressure on the broader market.

Oil prices slumped more than four per cent, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.

Gold steadied as the US dollar fell, but higher interest rates in the US and a weak market are expected to weigh on prices of the precious metal.

The S&P 500 has ended slightly lower following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America's results reinforced expectations of a strong US earnings season.

Australian shares fell nearly half a per cent on Monday, led by losses in healthcare stocks, while soft weekend property auction results undermined banks, whose business model relies heavily on home loans.

US stocks have risen slightly, putting the S&P 500 at its highest closing level in more than five months, as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed.

Australian shares have finished flat after a yo-yo final trading session of the week, which saw a retreat among the banks outweigh healthcare sector gains.

Australian shares have opened higher backed by robust commodity prices and an overnight tech-led rally on Wall Street.

Gold edged higher as the US dollar eased off a six-month high against the Japanese yen, but bullion failed to gain traction as traders said US-China trade tensions so far were boosting the greenback instead of the precious metal.

Brent crude has strengthened, recouping some of its losses from the previous session as market focus returned to concerns about spare capacity following a warning from the International Energy Agency (IEA).

US stocks have climbed as top technology names hit record highs and industrials rebounded from losses driven by trade worries the day before.

Strong showings from healthcare heavyweights and the major banks have propelled the Australian share market to its highest close for a decade after a nutty day of trading.

Australian shares have opened higher as strong gains from financial and consumer staple stocks more than offset materials and energy weakness from falling commodity prices.

Gold prices have slipped as US threat of tariffs on an additional $US200 billion of Chinese goods pushed safe-haven flows to the US dollar and dashed hopes that Washington would eventually step back from the escalating row.

Global benchmark Brent crude oil has had its biggest one-day drop in two years as escalating US-China trade tensions threatened to hurt oil demand, and news that Libya would reopen its ports raised expectations of growing supply.

US stocks have fallen, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional $US200 billion ($A270 billion) worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares.