Oil prices plunged about five per cent overnight to two-month lows as a sell-off in global equity markets raised worries about demand growth and after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of US sanctions on Iran.
Tokyo-based Inpex has achieved a significant milestone, with the first shipment of LNG departing the company’s $46 billion Ichthys project at its onshore plant in Darwin.
Oil futures changed little after paring earlier losses, despite Saudi Arabia's pledge to raise crude production to a record high, two weeks before US sanctions potentially choke off Iranian supplies.
SPECIAL REPORT: Gold Corporation, Alcoa, Roy Hill and Chevron have all posted higher revenue numbers in Business News’ annual analysis of WA’s biggest exporters.
The Environmental Protection Authority will receive a $3.3 million funding boost to deal with a recent spike in proposals in Western Australia, with the government also announcing plans for a scheme to allow the outsourcing of some assessments.
Oil prices have risen on signs of surging demand in China, the world's number two oil consumer, although prices were headed for a second weekly decline on swelling US inventories and concern that trade wars were curbing economic activity.
Oil prices fell as investors' concerns returned to the impact an escalating trade row between China and the United States will have on oil demand growth and data showing ample supplies.
Woodside Petroleum has reported around a 25 per cent jump in third-quarter revenue, underpinned by rising output at the Wheatstone liquefied natural gas project and higher oil and LNG prices.
Local tech company DTI Group has announced a host of board changes, while Pancontinental Oil & Gas chief executive is set to resign due to personal reasons.
Oil prices have edged up in cautious trade as expectations of higher US shale output and inventories vied with worries that crude supply from the Middle East could be disrupted by looming US sanctions on Iran and growing tensions with top exporter Saudi Arabia.
Oil prices have steadied, supported by geopolitical tension over the disappearance of a Saudi journalist that has stoked worries about supplies from the world's top crude exporter, but weighed by concern over long-term demand outlook.c
Crude futures have steadied late in the session, following the stock market slightly higher, after earlier swinging lower on a weakening oil demand outlook.
Opinion: Investment bank Credit Suisse says there could be a new micro-LNG train getting ready to roll in WA, and smaller players such as Beach Energy could be in the driver’s seat.
Oil prices have slumped to more than two-week lows as global stock markets fall, with investor sentiment made more bearish by a bigger-than-expected build in US crude inventories.
Oil prices dropped two per cent overnight as US equity markets broadly fell, even though energy traders worried about shrinking Iranian supply from US sanctions and kept an eye on Hurricane Michael, which closed some US Gulf of Mexico oil output.
Oil prices have risen about one per cent on growing evidence of falling Iranian crude exports before the imposition of new US sanctions, as well as a partial production shutdown in the Gulf of Mexico because of Hurricane Michael.
Oil prices almost fully recovered from a sharp drop overnight, paring losses as investors bet China's economic stimulus moves would lift crude demand in the world's number two economy.
Crude futures steadied after climbing to four-year highs, while both Brent and US crude marked weekly gains ahead of US sanctions on Iranian oil exports.
West Perth-based oil hopeful Norwest Energy has said a delay in regulatory approvals has pushed back the targeted start of a seismic survey at its Xanadu prospect in the Perth Basin until at least March 2019.
Oil prices fell overnight as the prospect of increased crude production from Saudi Arabia and Russia prompted profit-taking the day after futures hit four-year highs on a boost from imminent US sanctions on OPEC's number three producer, Iran.
Brent crude rose nearly two per cent after hitting a four-year high on overnight as the market focused on upcoming US sanctions on Iran, while shrugging off the year's largest weekly build in US crude stockpiles and reports of higher Saudi Arabian and Russian production.
Oil prices eased slightly after rallying for three straight sessions, but remained close to four-year highs on worries that global supplies will drop due to Washington's sanctions on Iran.
The government of East Timor has struck a deal to buy a 30 per cent stake in the Woodside Petroleum-operated Sunrise gas project, as it continues pressing for development of an LNG plant on its own territory.
Oil futures jumped more than $US2 a barrel, rising to levels not seen since November 2014, as US sanctions on Iran loom and a North American trade deal fosters growth.
Oil prices rose more than a percent, with Brent climbing to a four-year high, as US sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production.
Oil prices eased after US data showed a surprise build in domestic crude inventories, but an impending drop in Iranian exports kept Brent futures above $US80 a barrel and on track for a fifth straight quarterly gain.
Oil prices jumped on global supply concerns following US sanctions on Iran's oil exports, with benchmark Brent surging to a four-year high, before retraced gains after US President Donald Trump called again on OPEC to boost crude output.
Oil prices eased, pulling back after US President Donald Trump urged OPEC to increase production at its meeting in Algeria, and slowing bullish momentum that had previously propelled the market toward four-year highs.
