Oil prices have slid nearly 3 per cent, extending the previous session's dive that brought prices to the lowest levels this year, as record US crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
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The Australian dollar has slipped against its US counterpart, which lifted as strong US payrolls data underlined expectations of a lift in US interest rates.
Oil prices plunged 5 per cent to their lowest levels this year on Wednesday as U.S. crude inventories surged much more than expected to a record high, stoking concerns a global glut could persist even as OPEC tries to prop up prices with output curbs.
Oil prices are little changed, as growing US production expectations offset earlier gains after Saudi Arabia's oil minister said market fundamentals were improving.
Gold has hit its lowest level in more than four weeks as the US dollar strengthens and expectations for a US interest rate rise this month weigh, though moves were muted ahead of US payroll data this week.
The Australian share market has closed higher as US President Donald Trump's move to repeal Obamacare appeared to help clear the way for him to start tackling tax reform, which markets have been waiting for.
Oil prices have whipsawed, turning negative after the International Energy Agency forecast potential shale oil growth and waning European refined product demand, before Brent did an about turn into positive territory.
The Australian dollar is hardly changed against its US counterpart which has risen on improved chances of an anti-EU candidate winning the French presidential election.
Gold has fallen for the third straight session, but has hovered above Friday's two-week low, pressured by comments from Federal Reserve chair Janet Yellen that reinforced expectations of an increase to US interest rates this month.
US stocks pulled back on Monday in a broad decline as investors grew uneasy over the latest tumult surrounding the Trump administration and geopolitical tensions emanating from North Korea.
The Australian share market has closed lower with the major miners, energy players and banks leading losses after Wall Street fell and the Australian dollar lost ground.
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The share market has had its best session in more than three months following rallies on markets in the US and Europe as investors feel more positive about the global economic environment.
The Australian share market has got off to a strong start after five sessions of decline, with investors taking cues from the rallying US and European markets overnight.
The Dow has blasted through the 21,000 mark for the first time after US President Donald Trump's measured tone in his first speech to Congress lifted optimism and investors viewed a looming interest rate hike as a glass half full.
The Australian dollar is higher against its US counterpart after news that Australia's economy expanded 1.1 per cent in in the last quarter of 2016, among the strongest quarterly performances in the past five years
Gold has given back most of its losses as the US dollar has pared gains and bullion shrugs off earlier pressure from US Federal Reserve officials' comments that raised expectations of an interest rate rise in March.
