Soft week in cautious market

FEARS of interest rate hikes in Australia, coupled with ongoing nervousness caused by tensions in the Middle East, have resulted in investors adopting a cautious approach this week with even record first half sales revenue for PNG stalwart Oil Search failing to cause a stir.

Oil Search posted record first half revenue of $US315.4 million ($A413.7 million) during the week on the back of high oil prices achieved for PNG crude – $74.

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