12 September 2026
Australia news live: escalating Middle East conflict will see prices rise again, Chris Bowen says
The energy minister says Australia has 41 days’ worth on petrol in strategic reserve. Follow today’s news live Conflict in the Middle East is again placing pressure on the supply of crucial oil exports. On Friday, Saudi authorities said drones launched from Iraq led to a temporary closure of a crucial oil export route used to bypass the lockdown of the strait of Hormuz . The situation is getting worse in the Middle East. The dispute involving Saudi Arabia and the Houthis and the ongoing war in Iran is doing nothing to improve the fuel supply around the world and is pushing up prices of oil.
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