US-Iran war updates: Albanese forecasts economic strife amid fuel crisis, calls on Aussies to ‘do their bit’

Earlier this week the Prime Minister was strongly encouraging Australians to proceed with their long weekend holiday plans, insisting “people should enjoy their Easter.”

“It’s important as well that we keep the economy going. Easter is an important time for tourism destinations, for jobs. They rely upon that. And I wish those people of faith as well, a holy Easter,” he said on Monday.

His comments came as he unveiled a $2.55 billion halving of the fuel excise, with the Treasurer telling motorists the move would deliver a whooping $19 discount when filling up a 65-litre vehicle.

Tonight, Anthony Albanese will again be addressing the nation, but with a very different tone, and a grim sign that the worst is yet to come in the global oil crisis.

In his nationally televised address at 7pm Canberra time, the PM will outline the government’s response to the Middle East conflict and “encourage Australians to play their part”.

The Nightly understands the pre-recorded comments will be broadcast live across all TV and radio networks simultaneously, and Australians will be asked to save fuel for the areas and industries that need it.

Read the full analysis.

Iran’s state broadcaster IRIB has reported that explosions were heard across northern, eastern and central districts of Tehran, indicating the capital was under attack.

At the time of these reports it was around 6.30 am in Tehran.

The United Arab Emirates is preparing to join the US and allies in forcing open the Strait of Hormuz, according to a report by The Wall Street Journal.

Emirati officials are lobbying for a United Nations Security Council resolution to authorise action, while also reviewing how the country could play a direct military role, including clearing mines and providing other support.

The move comes after repeated Iranian attacks on UAE cities, which have targeted civilian infrastructure and disrupted air traffic and tourism.

Gulf officials say the UAE sees the risk of Iran’s aggression as worth confronting, despite the potential long-term tensions it could create. The UAE also proposes US occupation of contested islands, in the strategic waterway including Abu Musa.

This marks a dramatic change from the UAE’s previous attempts to mediate between the US and Iran.

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In an interview with Fox News, Rubio questioned whether the alliance was still serving US interests, particularly when it comes to access to military bases and airspace.

“Why do we have hundreds of billions of dollars over the years and all these American forces stationed in the region if, in our time of need, we’re not going to be allowed to use those bases?” he said.

Mr Rubio said the situation had prompted broader questions about whether the long-standing alliance had become imbalanced.

“We are going to have to reexamine whether or not this alliance… is still serving that purpose,” he said.

“Or has it now become a one-way street where America is simply in a position to defend Europe, but when we need help, our allies deny us basing rights and overflight?”

He added these were “very legitimate questions” the US would need to consider moving forward.

“For all these countries that love to talk about international law, it is a violation of international maritime law to impede the free flow of travel in international water,” he told Fox News.

He added that any attempt by Iran to control the strait would be a global problem, not just an American one.

“We depend very little on the strait. So if, in fact, Iran decides to set up a toll, if, in fact, Iran decides that they’re going to illegally control the strait of Hormuz or decide they’re going to try to do that, look, I imagine that’ll be the president’s call – whether he wants to help. But this is a problem for the world. It is countries around the world [that] should be stepping up and dealing with that and saying that’s intolerable – and that’s what we’ve encouraged them to do.”

Speaking to Fox News, Mr Rubio said the United States had set out four key objectives in the conflict and was already making significant progress on each.

“I hear these news reports, and it’s very frustrating that we don’t know what the objectives are,” he said.

“The objectives are very clear.”

Mr Rubio said the US had already moved to dismantle Iran’s air force and had largely neutralised its navy, while efforts were continuing to destroy missile and drone production facilities.

He added the US was also working to significantly degrade Iran’s missile launch capabilities to prevent large-scale attacks.

“We are well on our way to achieving all four of those objectives. Those objectives will be achieved very soon.”

He also signalled the conflict may be approaching a turning point.

“We can see the finish line. It’s not today, it’s not tomorrow, but it is coming.”

US President Donald Trump will also deliver an address to the nation in roughly 24 hours.

The address will be broadcast at 12.30pm (AEDT), Thursday, 9.30am (AWST).

“TUNE IN: Tomorrow night at 9PM ET, President Trump will give an Address to the Nation to provide an important update on Iran,” White House Press Secretary Karoline Leavitt wrote on X.

Anthony Albanese will make a special address to the nation at 7pm AEDT on Wednesday about the Middle East and fuel crisis.

The PM will use the message – being broadcast across all television and radio networks simultaneously – to outline the Government’s response to the Middle East conflict and encourage Australians to play their part, including by saving fuel for the areas and industries that need it.

Similar previous national addresses have been made during earlier crises, including COVID and the global financial crisis.

Shocking footage has emegered reportedly showing the moment a group of US troops were forced to brace and take cover as an Iranian ballistic missile struck a base.

The video shows a faint orange light, which turns out to be a ballistic missile rocketing towards the ground at incredible speed.

An explosion is seen as the missile hits, as the US troops can be seen covering their faces and attempting to retreat inside a structure.

The video is reportedly from March 30, however, US officials have yet to comment on the leaked video.

Treasurer Jim Chalmers says Australia is facing the economic fallout from the Middle East conflict from a comparatively strong position, despite mounting global uncertainty linked to rising oil prices and prolonged geopolitical tensions.

Dr Chalmers pointed to solid labour market conditions, including low unemployment and strong workforce participation, as key factors helping Australia weather the international shock more effectively than other advanced economies.

“I would remind people that we go into this quite severe global economic shock from a position of genuine, relative economic strength,” he said.

Treasury is continuing to model potential scenarios ahead of the May budget, with the length and severity of the conflict expected to play a major role in shaping economic outcomes.

“Clearly, the more substantial the oil shock, the longer that the war drags on, the longer it takes for the global economy to get the show back on the road,” Dr Chalmers said.

“We’ll keep working through the various scenarios to try and work out our best sense of what this means for our economy and most importantly, for our people.”