In a strategic bid to fortify national fuel reserves, Foreign Minister Penny Wong recently secured a diplomatic breakthrough during high-level Beijing talks - after the escalating Middle East conflict paralysed the Strait of Hormuz, plunging Australia into a precarious energy crisis.
Australian second-hand electric vehicle sales surged 138% in one month as motorists flee volatile petrol prices.
Prime Minister Anthony Albanese has arrived in Singapore to fortify Australia's fuel security.
Matt Zimmer, global head of investment banking at William Blair, joins Dani Burger and Scarlet Fu on "Bloomberg Deals." They discuss which sectors stand to see a slowdown or acceleration in dealmaking amid global fuel constraints.
Australia has secured critical energy guarantees from major Asian partners to safeguard fuel security.
Some refiners could wait several weeks for oil even after the Strait of Hormuz is fully reopened, keeping up the pressure on prices. Macquarie Group Global Energy Strategist Vikas Dwivedi said in a recent note that oil could hit a record of $200 a barrel if the Iran war drags on. He speaks on Bloomberg Surveillance.
Australia introduces the Treasury Laws Amendment Bill 2026 to double fines for fuel price gouging amid shortages.
New South Wales Premier Chris Minns has issued a "please-explain" to major fuel suppliers as a distribution crisis leaves 105 NSW service stations without diesel and 35 completely dry.
Attacks on oil and gas infrastructure in the Arabian Gulf have escalated in the past two days. After a rebuke from President Trump, Israel says it will no longer target energy assets after its attack on an Iranian gas field sparked retaliatory strikes, cause oil and gas prices to surge. Crystol Energy Global Advisor, Christof Rühl, says the US is running out of methods to keep the oil price low if the Strait of Hormuz isn't reopened. He spokes to Joumanna Bercetche on Horizons Middle East and Africa.
Ampol (ASX:ALD) has welcomed the Australian Federal Government's Phase 1 review of the Fuel Security Services Payment.
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