Politics

Three national funding streams will be fast-tracked in a bid to get capital moving faster to Australian businesses and strengthen critical supply chains, as the status of the Strait of Hormuz remains volatile.

War hero Ben Roberts-Smith has made his first public statement since being charged with five counts of alleged war crimes, emphatically denying the allegations against him.

Traders will be hoping US President Donald Trump strikes a permanent deal with Iran to keep the Strait of Hormuz open as the clock ticks on a fragile ceasefire.

Global fuel supply uncertainty has intensified after the Strait of Hormuz shut again, with Richard Marles warning tensions could disrupt energy markets.

A French soldier in a United Nations mission in Lebanon has been killed, with the Hezbollah militia likely responsible, French President Emmanuel Macron says.

Iranian authorities have reversed a decision to reopen the Strait of Hormuz and reports say two Indian-flagged ships ‌came under fire in the waterway.

Iran has backflipped on its agreement to reopen the Strait of Hormuz, after the United States imposed a counter-blockade on the major oil route. 

Australians can expect petrol prices to fall further in coming weeks as oil prices ease, although volatility is expected to continue for months.

Energy Minister Chris Bowen has extended temporary fuel quality changes to September as global supply pressures continue to create uncertainty.

Anthony Albanese has responded to the reopening of the Strait of Hormuz, warning that the economic impact of the conflict will continue to be felt worldwide.

Kevin Rudd has shared a parting message after concluding his Washington posting as Australia’s ambassador to the US.

As fuel supplies tighten, world leaders - including Australia's - are having to make uncomfortable choices about where they source their oil.

Australia has joined a meeting of about 50 world leaders to organise an international mission to reopen the Strait of Hormuz amid ongoing trade disruptions.

The US President has taken an unusually tough stance on Israel’s military campaign in Lebanon, while signalling progress toward a wider deal involving Iran.

Iran has declared the Strait of Hormuz open for commercial transit, as backchannel diplomacy points to a potential deal within weeks.