Australian news and politics live: Labor to reveal details of east coast gas reservation scheme

Energy Minister Chris Bowen is shortly expected to unveil details of Labor’s proposed east coast gas reservation scheme, as part of the government’s efforts to stave off looming domestic supply shortfalls.

The Nightly has confirmed Mr Bowen is scheduled at 12.30pm Sydney time to outline measures which could force exporters to set aside between 15 per cent and 25 per cent of new supplies for Australian use.

Labor has recently shelved plans to put a new tax on gas exports as Australia works with Asian trade partners to secure imports of fuel amid the global oil crisis.

NSW Police Commissioner Mal Lanyon says officers will be at Sydney Airport in force on Thursday for the arrival of members of the ISIS bride cohort.

“I think the announcement has had significant public interest. So we’ll certainly have a policing presence, as will the AFP, just to make sure there’s no breach of the peace,” he told 2GB.

“Just to make sure that any people that may attend in support or against the people returning to Australia aren’t unruly and behave.”

He also said his force was ready to step in if a mother and child are separated due to an arrest.

“We would work very closely with any relatives of that child, or certainly, if not, the Department of Communities and Justice will work closely to make sure that child is taken care of.

“It is important we take care of any children who may be present.”

Education Minister Jason Clare says that the AFP know what they are doing, desperately attempting to bring calm as 13 ISIS bride cohort members fly to Australia.

“Well, I’ve got faith in the Australian Federal Police. They know what they’re doing. This is not their first rodeo,” Mr Clare told ABC News Breakfast on Thursday.

“I trust in the words of the AFP Commissioner yesterday, when she said that some of these women will be arrested when they arrive and others will be subject to further investigation.”

As for the children, Mr Clare said reintegration would “take time”.

“Kids don’t get to choose who their parents are, and these children have seen the sorts of things that no child should ever be exposed to,” he said. “It’s going to take time for these children to reintegrate into Australian society.”

Oil prices tumbled on Thursday morning amid hope that the US and Iran are near a peace deal to end a war that has stoked the biggest energy supply shock in history.

Brent Crude futures sank 6.2 per cent to $US103.09 a barrel, and US WTI oil fell 5.8 per cent to $US96.77 a barrel. Australian share futures pointed to a 0.8 per cent gain at the opening bell on Thursday.

The Australian dollar also rose to a four-year high after the Reserve Bank lifted benchmark interest rates 25 basis points to 4.35 per cent on Tuesday. On Thursday morning, the dollar bought $US72.4 cents, after hitting a high of $US72.8 cents on Wednesday evening.

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The US Central Command (CENTCOM) has revealed new details about an overnight operation targeting an Iranian-flagged oil tanker in the Gulf of Oman, saying US forces intervened after the vessel attempted to continue toward an Iranian port.

A US Navy warplane fired “several rounds” of ammunition into the ship’s rudder after what CENTCOM described as repeated warnings were ignored.

“After Hasna’s crew failed to comply with repeated warnings, US forces disabled the tanker’s rudder by firing several rounds from the 20mm cannon gun of a US Navy F/A-18 Super Hornet launched from USS Abraham Lincoln (CVN 72),” the command said, adding, “Hasna is no longer transiting to Iran.”

Donald Trump has issued what appears to be a stark final warning to Iran, taking to Truth Social to escalate pressure amid ongoing negotiations.

“If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before.”

The threat comes as Washington pushes Tehran to accept a deal to end the conflict, with Trump making clear that failure to reach an agreement could trigger a significant escalation in military action.

Donald Trump has insisted Iran is eager to strike a deal to end the war, suggesting US pressure could ultimately force a settlement.

Speaking at a Mother’s Day lunch at the White House, he said: “We’re dealing with people that want to make a deal very much, and we’ll see whether or not they can make a deal that’s satisfactory to us.”

As tensions continue in the Strait of Hormuz, Mr Trump described the blockade as a “wall of steel”, with both sides using disrupted oil and gas flows as leverage.

“If they don’t agree, they’ll end up agreeing shortly thereafter,” he said.