oil prices

Water has reached as high as second-storey homes as the deluge from storm Harvey dumps tens of inches of rain on the state.

A 30km stretch of coastline has been affected.

Standard Chartered's Peter Gaw says industry should get real and accept an era of low prices.

Qatar is facing a a blockade from Saudi Arabia and other neighbours.

Oil producer sees debt decline $950m in the first half on the back of a successful share issue.

Precious metals rose for much of the European session fuelled by volatility in currency markets and political uncertainty.

Many money managers were withdrawing bets on higher oil prices before Saudi-Russian announcement reignited interest.

The Dow Jones also ended higher, gaining 85.33 points to settle at 20,981.94.

Major oil producers pledge to do "whatever it takes" to cut production to curb current oil glut.

Environmentalists believe the reef, more 1,000 kilometres long and dotted with brightly coloured coral, may be home to new marine species.

Prospect of rising US shale production continues to neuter possible price boost from Opec output cut extension.

Five-month low oil prices and a downturn in the commodities sector weighed heavily on investors.

Energy shares saw a big boost following rise in oil prices.

Bearish data from US failed to halt gains in oil market as traders speculate over extension of Opec cuts.

Energy giant to sell its interest in Kapuni gas field to local venture partner Todd Energy.

Wood Group expects to achieve 36% higher cost synergies from its deal to buy Amec than initially estimated.

Controversial pipeline was approved by Trump in reversal of Obama policy to combat climate change.

The mixed trend follows RBA highlighting the growing risks in the Australian housing market.

US rigs count rises for the ninth consecutive week, with production now exceeding 9m barrels per day.

US crude supplies record first decline in 10 weeks, while Saudi Arabia reiterates commitment to OPEC deal.

Investors are cautious ahead of a likely interest rate hike announcement on Wednesday (15 March).

US rigs count increases for eight consecutive week, bringing the tally to highest level since September 2015.

Amec Foster Wheeler shareholders will retain control of 44% of the new company, following £2.2bn takeover bid.

Secretary of State promised to divest stock holdings worth more than $50m within three months of confirmation.

Oil appears to be stuck in the low-to-mid-$50 range but money managers continue to place bets to the upside.

Over the past nine weeks, gold has risen on eight occasions while silver has in every one.

Oil futures slid as traders booked profits on recent price upticks triggered by comments from Opec.

Higher drawdown of US inventories sends Brent, WTI futures on recovery run.

The trend in Asian markets also follows renewed confidence in China's economy.

Economists suggested that China might report a $10.5bn fall in its foreign exchange reserves in January.