US-Iran war updates: Donald Trump claims ‘war is won’ while Iranian officials mock reports of ceasefire plan

Kuwait’s army has confirmed its air defences are currently responding to attacks.

“The Kuwaiti air defenses are currently confronting hostile missile and drone attacks,” the army posted on X.

Australian businesses are failing at record rates and soaring energy prices are set to make matters worse, putting the national economy at risk of recession.

Business insolvencies and payment defaults were already at or near their highest-ever levels from mid-2025, before the Persian Gulf conflict lit a match under oil prices and hammered global growth expectations.

Smaller businesses in some of Australia’s most essential, fuel-heavy industries such as agriculture, mining, manufacturing, construction and road transport, were most exposed to the shock, CreditorWatch chief economist Patrick Coghlan said.

“Australia’s small- and medium-sized businesses are facing one of the most challenging operating environments we’ve seen in years, with cost pressures, interest rates and global volatility all converging at once,” he said.

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Foreign Minister Penny Wong has spoken with her Israeli counterpart Gideon Sa’ar, welcoming US talks with Iran on de-escalation and raising concern over the situation in Lebanon.

“Iran’s weaponisation of the Strait of Hormuz, impacting oil and fuel prices worldwide, demonstrates the Iranian regime’s willingness to inflict economic pain on households and businesses across the world. Australia wants to see critical energy supplies flow to our partners and our region,” Senator Wong said after the call.

She said she discussed Hizballah’s continued aggression towards Israel, agreeing the terrorist organisation must be disarmed, but reinterred that Australia supports Lebanon’s sovereignty.

“Australia supports Lebanon’s sovereignty – so we do not want to see occupation of southern Lebanon by Israel.”

Back on day nine of the US-Iran war, The Nightly’s Aaron Patrick revealed why US President Donald Trump might move on Kharg Island. With paratroopers now moving in, his plans to take the key oil site could be firming up.

AARON PARTRICK: Some experts have a intriguing suggestion: capture an island that handles 90 per cent of Iranian oil, cutting off the regime’s primary funding source.

Tiny Kharg Island could be the key to the whole war. About 10km long and 25km from the mainland, the island’s terminals load tankers with roughly 1.5 million barrels of oil a day — most destined for China.

The idea of taking the island by force was proposed on the weekend by Michael Rubin, a Republican policy analyst who was an adviser on Iran and Iraq to Defence Secretary Donald Rumsfeld in the early 2000s.

​Read his full analysis here. ​

Iran is trolling Australia over fuel shortages.

The Persian-language Tasnim News Agency, affiliated with Iran’s hardline Islamic Revolutionary Guard Corps, reposted a video from Tuesday of a Gold Coast service station with empty petrol bowsers.

“Petrol and diesel running out in Australia,” Tasnim posted on X. “Hundreds of petrol stations in Australia have completely run out of petrol and diesel.”

“Hundreds of gas stations in Australia are completely out of fuel and diesel — Energy Minister,” he said. “The country is now preparing for the worst-case scenario. Mad Max: The Beginning.”

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The US is sending around 2000 paratroopers to the Middle East in addition to other large deployments previously announced.

The order, which came from the Pentagon, will see 2000 soldiers from the US Army’s 82nd Airborne Division sent in as US President Donald Trump weighs up his options, The New York Times reported.

The move comes as around 2500 members of the US Marines are expected to arrive in the Middle East later this week.

What mission they will be given remains unclear; however, speculation is growing that they could be directed to take Kharg Island, a small strip of land in the Strait of Hormuz, which could give them a strategic position to ensure safe passage for oil tankers.

The paratroopers could arrive in the Middle East in hours, coming from a rapid deployment squad that operates with the commitment to get boots on the ground anywhere in the world within an 18-hour time frame.

Australian shares rose on Wednesday morning after President Donald Trump declared “the war has been won” and US newspaper reported the US sent Iran a 15-point peace plan via Pakistani negotiators.

The S&P/ASX 200 share index rose 1.3 per cent to 8489, leaving the market flat over the past week. Benchmark Brent crude prices eased to $US96 a barrel as traders scoured for clues as to the likelihood Iran will reopen the Strait of Hormuz as part of any peace deal. The Australian dollar fell 0.3 per cent to buy US69.9 cents.

Kuwait and Saudi Arabia reported drone and missile attacks on Tuesday, while mediators from Turkey, Egypt and Pakistan want to arrange a meeting between American and Iranian officials in the next 48 hours, the Wall Street Journal reported.

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Israel’s military said early Wednesday it had launched strikes on targets in the Iranian capital, Tehran, shortly after reporting that Iran fired a fresh wave of missiles towards Israel.

“Initial report – the IDF has begun a wave of strikes targeting infrastructure of the Iranian terror regime across Tehran,” the Israeli military said on its official Telegram channel.

Rising tensions in the Middle East and the resulting fuel crisis are hitting Australia’s construction sector, with builders warning of soaring costs and supply pressures reminiscent of the post-COVID boom.

The chief executive of Master Builders, Paul Bidwell, says the industry is already feeling the strain, as suppliers flag significant cost hikes on key materials, particularly plumbing products.

Speaking on Triple M Breakfast Brisbane with Marto, Margaux and Dan, Mr Bidwell said the situation is “feeling a bit like the period post-COVID”.

“We have been inundated with calls from members with concerns,” he said.

“The suppliers have notified them of price hikes ranging from 5 per cent to as much as 50 per cent. And it’s the plumbing products, particularly.”

Mr Bidwell pointed to real-world examples of the impact, including a builder working on a two-stage unit development now facing major cost blowouts.

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Australia Post is lifting fuel surcharges for around 30,000 contract delivery businesses as it moves to offset rising petrol and diesel costs.

The changes do not apply to more than 250,000 MyPost Business customers or retail customers sending parcels through post offices.

From Monday, the Australia Post domestic parcel sending contract and StarTrack Courier fuel surcharge increased from 4.8 per cent to 12 per cent, while the StarTrack Express and StarTrack Premium fuel surcharge rose from 15.5 per cent to 22.7 per cent.

Australia Post said the increase was “a necessary change to help manage cost in a challenging environment”.