Albanese and Federal ministers have been scrambling to shore up refined fuel supplies as the de facto closure of the Strait of Hormuz has cast Australia’s heavy reliance on Asian markets for fuel into focus.
UK Prime Minister Keir Starmer has welcomed the US-Iran ceasefire and will travel to the Middle East for talks about ensuring the Strait of Hormuz remains open.
Anthony Albanese’s temporary halving of petrol and diesel taxes has lifted a key consumer sentiment reading from its worst results since records began in 1973.
Global markets reacted sharply after Donald Trump signalled a two-week pause on Iran strikes linked to negotiations over the Strait of Hormuz deal as equity futures jumped.
US President Donald Trump has unleashed over the use of human bodies as shields across Iran, following a request from the regime for youth, students and athletes to protect the vital infrastructure.
Donald Trump's criticism of allies and threats on Iran raise pressure, but an expert says Australia is unlikely to join offensive operations despite tensions.
China and Russia have vetoed a UN push to safeguard shipping in the Strait of Hormuz, intensifying fears over global oil supply as Iran tensions escalate.