What we covered today
After 25 days, the war in the Middle East shows no signs of slowing down, and the shockwaves to Australia’s major industries are only growing larger.
Here’s a recap of the day:
- The number of Australian service stations running out of fuel continues to climb into the hundreds as the war in the Middle East drags on. The latest numbers are 289 without some type of fuel in NSW, 90 in Queensland, 162 in Victoria and six in WA.
- US President Donald Trump backed away from threatened strikes against Iranian energy infrastructure for five days, pending the outcome of what he said were “productive” talks with Iran.
- Trump said Iran wanted to make a deal and the US was also willing. He said his Middle East envoy Steve Witkoff and son-in-law Jared Kushner had been holding talks with a respected Iranian leader, and the two sides had reached “major points of agreement”.
- The Strait of Hormuz would be opened very soon if the talks were successful, and the price of oil “will drop like a rock as soon as a deal is done”, Trump added.
- However, Iran’s parliament speaker, Mohammad Bagher Qalibaf, denied there had been any negotiations with the US and said it was “fake news” to manipulate financial and oil markets.
- Consumer confidence has crashed as fuel costs spiral due to the war.
- European Commission President Ursula von der Leyen has called for an end to hostilities in the Middle East.
- The death toll from the war has passed 2500: more than 1500 in Iran, more than 1000 in Lebanon, 15 in Israel and 13 US military members, as well as a number of civilians on land and sea in the Gulf region. Millions of people in Lebanon and Iran have been displaced.
Business advocate joins calls for Australians to use public transport
Business Council of Australia chief executive Bran Black says Australians should be encouraged to use public transport to get to work during the fuel crisis.
Black said it could be a more effective way to conserve fuel and cut down on costs than encouraging workers to stay home, as suggested on Friday by International Energy Agency chief Fatih Birol.
“We know that we should be looking at wherever we sensibly can reduce our fuel consumption, but at the same time, this is all about balance and being sensible,” Black told ABC’s Afternoon Update.
“So at the same time, we need to account for the fact that there are businesses that depend for their livelihoods each and every day on foot traffic, and we need to make sure that they can continue to stay open.”
Black said that while some of the supply chain issues were similar to the shocks felt during the COVID-era shutdowns, people “don’t have to socially isolate. We can use public transport, and my advice would be, if people can sensibly use public transport coming to work as they ordinarily would, support their small businesses, then they should absolutely do so.”
Black’s comments follow a call from the Victorian Farmers Federation last week for people to take public transport to conserve fuel for farmers.
Central Tel Aviv hit by missile strike
After a recent warning about an incoming Iranian missile barrage, an explosion could be heard and smoke could be seen in central Tel Aviv.
Israel’s military said search and rescue forces were headed for several sites where impacts had been reported.
Israel’s Magen David Adom rescue service posted images to X of a damaged site in central Israel where rescue workers thronged around cars that had been charred to ashes.
The service said four people had been hurt but did not require treatment, adding that teams were searching for more injured.
Meanwhile, Al Jazeera reported that at least six people were killed and nine injured when a US-Israeli strike hit one of the residential areas of East Azerbaijan Province, in north-west Iran.
AP
Shipping costs to rise for Australia Post business customers
Australia Post has said it will increase the fuel surcharge levied on its larger business customers by 150 per cent in May.
From April 23 until May 31, the surcharge will be 12 per cent, up from 4.8 per cent for the first three weeks of April.
The StarTrack Express and StarTrack Premium Fuel Surcharge is increasing from 15.5% to 22.7%.
In a statement, the service said the change would affect around 30,000 large customers it had delivery contracts with. This masthead understands they are businesses such as retailers KMart and The Iconic.
Iran foreign minister holds talks
Iranian Foreign Minister Abbas Araghchi has been discussing the conflict with some of his counterparts since Monday.
Araghchi was speaking to officials from Azerbaijan, Egypt, Oman, Pakistan, Russia, South Korea, Turkey and Turkmenistan, his office confirmed.
A member of Iran’s parliament has warned that his nation must “think wisely” about US President Donald Trump saying talks were ongoing between Tehran and Washington.
The semi-official Fars news agency quoted Esmail Kowsari, a member of parliament’s national security and foreign policy committee, as making the comment.
Share rally halts on news Gulf states could enter war
An early bounce for Australian shares has faded, as hopes of Middle East de-escalation crumbled on reports US Gulf allies were taking steps to enter the conflict.
After rising 138 points at Tuesday’s open, the S&P/ASX 200 ended the session 13.5 points higher, up 0.16 per cent, at 8379.4, while the broader All Ordinaries gained 18.7 points, or 0.22 per cent, to 8571.3.
Global equities had surged on easing oil prices, following disputed reports the US was in talks with Iranian officials, but confidence faded after Saudi Arabia reportedly took steps to give the US military access to one of its airbases.
The Wall Street Journal reported that videos had shown missiles used in attacks on Iran had been launched from Bahrain.
The Australian dollar is buying US69.66¢, up slightly from US69.63¢ on Monday at 5pm.
AAP
US ‘to continue attacking Iran’ despite Trump’s words
The United States will continue its strikes on Iran, and the pause will apply only to attacks on Tehran’s energy sites, according to an online news report.
Semafor, a US-based website founded in 2022, reported this detail today, citing a US official. It followed US President Donald Trump saying on social media there had been “productive” talks with unidentified Iranian officials.
Earlier, Trump had postponed for five days a plan to hit Iran’s energy grid. Iran later denied that it had engaged in negotiations with the US.
“The stop on attacks for five days is only on their energy sites,” a US official told Semafor.
Fuel supply to hit a cliff in late April
Australia’s fuel supplies are set to hit a cliff by the end of April when the Asian refineries that deliver 80 per cent of Australia’s supply exhaust their inventories due to the Iran war oil crisis.
The government and Australian fuel importers are scrambling to lock in shipments of replacement fuel and are in talks with nations across Asia and Europe, as well as the US.
The negotiations have become even more urgent after China, which supplies about 4 per cent of the nation’s diesel, paused exports until the end of March.
Petrol prices have this week hit a high of $2.38 a litre.
Deadly Israeli strike hits apartment building near Beirut
An Israeli strike early on Tuesday on a residential apartment in Bchamoun, about 10 kilometres south-east of Beirut, killed at least two people, according to an initial toll from the Lebanese Health Ministry.
The strike wounded five others, the ministry added.
The strike came without warning and hit an area outside Beirut’s southern suburbs, where the Israeli military had previously issued evacuation notices.
Footage circulating online showed at least one apartment in a building engulfed in flames.
Diesel standards lowered, no changes to fuel excise
In Canberra, federal politics continues to be dominated by the Middle East conflict and its impacts on fuel prices.
Energy Minister Chris Bowen said Labor had temporarily adjusted diesel standards to allow more fuel to flow into the marketplace.
“This six-month adjustment will lower what is known as the flashpoint for diesel, from 61.5 degrees Celsius, to 60.5 degrees Celsius, increasing diesel supply options from refiners and international sources,” a statement from Bowen read.
Meanwhile in question time, independent MP Rebekha Sharkie asked Treasurer Jim Chalmers: “We are in a cost of living emergency. We must act now. Diesel has increased by over 55 per cent in the last month. Will the government suspend the fuel excise for 60 days to provide immediate relief for Australians?”
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: www.smh.com.au
