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Australia shares edge higher as banks gain, oil prices extend losses
Australian shares trended higher on Thursday, with broad-based gains led by banks, while oil prices extended losses as concerns about Middle East supply disruptions eased. The S&P/ASX 200 index rose 0.4% to 8,726.7, as of 0007 GMT. The benchmark closed 0.3% higher on Wednesday. Oil prices fell more than $1 but remained above $100 a barrel as reports trickled in that Saudi Arabia was offering additional crude cargoes through Oman. Rising crude prices have fanned inflation anxiety, potentially strengthening the case for central banks to lift interest rates to keep price pressures contained. ...
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