Highlights
  • ASX closes at record high of 7260.1 points.
  • Karoon Energy gives go ahead to Brazil oil field.
  • Woodside under fire over Scarborough oil field.

The ASX has closed at a record high, up 0.6% to 7260.1 points. Energy stocks led the gainers by 3.27%, while consumer discretionary companies fell 1.1%.

Making headlines, Australian energy producer Karoon Energy has given the green light to a new oil field off the coast of Brazil. The Patola project is forecast to cost between US$175m and US$195m and produce 10,0000 barrels-a-day. Production is due to start in early 2023.

Meanwhile, Woodside Petroleum's $15b Scarborough development off the Western Australian coast is under pressure from a coalition of conservation groups led by the Conservation Council of WA. The campaigners are raising concerns about the size of the project's emissions footprint and possible impact on Indigenous rock art.

The Aussie dollar is trading lower against the Greenback buying 77.22 US cents, 85 Japanese Yen and ?63.37 cents.

Bitcoin is trending higher, trading at US$38,829 at 5:05 PM AEST.

Iron ore is 0.36% lower at US$204.96 per metric ton and one ounce of gold is worth US$1,896. West Texas Crude oil is selling for US$68.83 per barrel, while Brent oil is unchanged at US$68.75/barrel.