Conflict impacts global oil trade viability. Government considers measures to support cost of living. Signals government openness to fuel excise extension.
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Updated oct 19
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What happened
Conflict impacts global oil trade viability. Government considers measures to support cost of living. Signals government openness to fuel excise extension.
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What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- The Australian government, based in Canberra, is dealing with the fallout of the Middle East conflict, which has caused global oil shortages and price volatility affecting regions like Perth.Sub-event
- Australia welcomes US-Iran agreement amidst conflict impacts on the global economy.Sub-event
Government signals openness to fuel excise extension amid concerns over global oil trade viability due to Hormuz situation.1 source
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The entities involved
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Hormuz
city in Hormozgan Province, Iran
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Anthony Albanese
31st prime minister of Australia since 2022
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