WAR – IRAN

Iran says Strait of Hormuz is closed again as Israel bombards Lebanon

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Original article by Michael Koziol
The Age – Page: Online : 9-Apr-26

The temporary ceasefire in the Persian Gulf is in doubt after less than 24 hours, following Israel’s continued airstrikes on Hezbollah targets in Lebanon. Multiple news agencies in Iran have reported that the Islamic republic has closed the Strait of Hormuz to shipping in response to the Israeli military action. The White House has advised that Lebanon is not currently included in the ceasefire agreement, although press secretary Karoline Leavitt says the US and Israel may discuss doing so in the future. However, Pakistan’s Prime Minister Shehbaz Sharif contends that Lebanon is included in the ceasefire. Meanwhile, Israeli Prime Minister Benjamin Netanyahu has warned that his nation is ready to resume airstrikes on Iran "at any moment".

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$A an unlikely powerhouse amid oil shock

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Original article by Cecile Lefort
The Australian Financial Review – Page: 21 : 8-Apr-26

The Australian dollar has fallen by less than three per cent against its US counterpart since the start of the Iran war; it has also fallen by only two per cent against a basket of currencies of Australia’s major trading partners. The dollar peaked at a four-year high of $US0.7151 in mid-March, and is currently fetching arond $US0.69. It has benefited from Australia’s status as a major exporter of gas and coal, amid the global ructions arising from the effective closure of the Strait of Hormuz. The dollar has also been boosted by the carry trade, given that Australia is the only member of the G10 nations to have increased official interest rates since the war began.

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US alliance paralysed as Trump lashes out

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Original article by Michael Read
The Australian Financial Review – Page: 4 : 8-Apr-26

Australia’s alliance with the US is under renewed scrutiny in the wake of President Donald Trump’s latest criticism of the nation’s failure to provide military assistance in the Persian Gulf. Trump again singled out Australia in a press conference at the White House, as well as Japan, South Korea and members of NATO. Marcus Hellyer from Strategic Analysis Australia says a point may be reached where it is no longer in the nation’s interest to retain the US alliance. Malcolm Davis from the Australian Strategic Policy Institute in turn says Australia is unlikely to end the US alliance or the AUKUS defence pact if Trump destroys Iran’s power stations; however, he expects the federal government to be critical of the Trump administration if it carries out this threat.

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UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, STRATEGIC ANALYSIS AUSTRALIA, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED

Miners fear diesel price surge

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Original article by Brad Thompson
The Australian – Page: 15 : 8-Apr-26

Listed gold producers Capricorn Metals and Ramelius Resources have indicated that the supply of diesel to their Australian mines has not yet been affected. However, Capricorn says diesel supply is a ‘material risk’ for the nation’s mining industry, while Ramelius has contingency plans in the event of fueld rationing or other supply restrictions. Meanwhile, Robex Resources says it has a 30-day supply of diesel at its Kiniero gold mine in Guinea; CEO Matthew Wilcox says supply chains have not been disrupted and the price of diesel in Guinea has risen by about five per cent since the Iran war began. Guinea imports all of its liquid fuels, and the nation does not have an oil and gas industry.

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CAPRICORN METALS LIMITED – ASX CMM, RAMELIUS RESOURCES LIMITED – ASX RMS, ROBEX RESOURCES INCORPORATED – ASX RXR

RBA delivers recession warning

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Original article by Lea Jurkovic
The Australian Financial Review – Page: 1 & 4 : 18-Mar-26

The latest official interest rate increase will put further on the federal government ahead of the budget in May. Treasurer Jim Chalmers says the Australian economy was already facing an inflation challenge, and the Iran war has made this harder. Reserve Bank of Australia governor Michele Bullock has warned that a recession is a possibility if inflation is not reined in; she has also emphasised the need to clamp down on inflation before it spreads across the economy. Bullock adds that inflation was already too high before the rise in petrol prices due to the war, and the cost of petrol was not the reason for the rate increase. The RBA’s monetary policy board voted 5-4 to increase the cash rate on Tuesday, and Bullock says the board’s split was in relation to the timing of a rate increase rather than the need for one.

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RESERVE BANK OF AUSTRALIA,AUSTRALIA. DEPT OF THE TREASURY

Crisis needs recall of national cabinet

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Original article by Sarah Ison,Eli Greenblat
The Australian – Page: 1 & 6 : 18-Mar-26

The federal government is under pressure to convene an emergency meeting of the national cabinet amid growing concern about fuel supply. Minerals Council of Australia CEO Tania Constable says action is needed to ensure that fuel is available in regional areas; she notes that in addition to farmers, industries such as mining and fishing also need fuel. The Australian Trucking Association’s policy director Bill McKinley in turn says the average diesel price has increased by more than $0.80 per litre since the Iran war started, and trucking firms "cannot keep going the way they’re going". The Australian Institute of Petroleum has warned that oil companies are already seeking alternative countries from which to import fuel, which will cost a lot more.

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MINERALS COUNCIL OF AUSTRALIA,AUSTRALIAN TRUCKING ASSOCIATION LIMITED,AUSTRALIAN INSTITUTE OF PETROLEUM LIMITED

‘We don’t need anyone’s help’: Trump lashes out at NATO allies, Australia over Iran war

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Original article by Michael Koziol
The Age – Page: Online : 18-Mar-26

US President Donald Trump has previously asked other countries – including NATO allies – to deploy warships to the Strait of Hormuz to help ensure safe passage of oil tankers. However, Trump has now claimed via his Truth Social platform that due to America’s military success in the Iran war, it no longer wants or needs the assistance of NATO countries. Trump specifically mention Australia among a list of countries that the US no longer requires assistance from, although Transport Minister Catherine King has previously stated that the federal government did not receive any request from the Trump administration. Meanwhile, Joe Kent has resigned as the director of the National Counterterrorism Centre, saying he could not "in good conscience" support the war; he was appointed to the role by Trump, who says Kent was "very weak on security" and "it’s a good thing that he’s out".

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UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT,NORTH ATLANTIC TREATY ORGANISATION,AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT, COMMUNICATIONS AND THE ARTS

Australia drawn further into Gulf conflict

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Original article by Michael Read
The Australian Financial Review – Page: 14 : 11-Mar-26

Prime Minister Anthony Albanese says the federal government’s deployment of an early-warning aircraft and 85 defence personnel to the Middle East is solely a defensive measure. He has emphasised that it is aimed at supporting Australians who are still in the region, and to help the United Arab Emirates and other Gulf nations to defend themselves against "unprovoked" attacks from Iran. Opposition leader Angus Taylor has backed the deployment, emphasising the need to "stand together" against regimes that do not accept Australia’s values and the nation’s way of life. The government will also supply an undisclosed number of medium-range air-to-air missiles to the UAE.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA

War cost to Aussie hip pockets

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Original article by Greg Brown, Matthew Cranston
The Australian – Page: 1 & 5 : 4-Mar-26

The Treasury has advised the federal government that the initial rise in oil prices following the airstrikes on Iran could increase Australia’s inflation rate by 0.15 per cent. Treasury also stated that inflation may rise by about 0.26 per cent if the conflict lasts for 18 months, and warned that any damage to gas production infrastructure in Qatar – which accounts for 20 per cent of global supply – would add to domestic inflationary pressures. Meanwhile, Resources Minister Madeleine King says Australia’s gas market is in a better position to absorb the impacts of the war in the Middle East than in 2022, when the invasion of Ukraine caused a surge in gas prices. Meanwhile, Reserve Bank governor Michele Bullock says the war could result in higher interest rates, noting that inflation is already elevated.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES

Middle East war could be decided by who runs out of missiles or interceptors first, analysts say

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Original article by Jason Burke
The Guardian – Page: Online : 4-Mar-26

Iran has launched retaliatory airstrikes against Persian Gulf nations such as Qatar, Abu Dhabi, Kuwait and Bahrain since the joint US-Israel attacks began. Stacie Pettyjohn, from the Center for a New American Security based in Washington, DC says the Iran conflict has become "a bit of a salvo competition", and the duration of the war may depend on the size of the combatants’ weapons arsenal. Pettyjohn adds that the extent of Iran’s stockpile is the "big unknown". Tal Inbar from the Missile Defence Advisory Alliance in turn notes that the duration of previous wars has been partly determined by the number of air defence missiles each country had.

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CENTER FOR A NEW AMERICAN SECURITY, MISSILE DEFENCE ADVISORY ALLIANCE