AAP

Australia's stock market is trading at its weakest level in nine months after the Iran war and the resulting energy shock prompted multiple central banks to brace for higher interest rates.

Australia's share market is on track for a third week of heavy losses as oil prices and inflation concerns spiral due to the escalating conflict in the Middle East.

The Australian share market has sharply fallen to a nearly four-month low after oil prices spiked, gold prices plunged, rate cut hopes dimmed and the war with Iran intensified.

Australia's labour market eased a little in February, despite an extra 48,900 jobs added to the economy, according to official data.

Australia will have a single point of contact overseeing fuel supplies as regional areas face shortages, with the prime minister saying the nation is prepared.

Wall Street ended sharply lower on Wednesday after the Federal Reserve held ‌US interest rates steady and projected only a single rate cut for the year.

Australia's share market has logged a second session of gains on easing oil prices, and as the Reserve Bank's recent split interest rate decision softened the outlook for future hikes.

An emergency national cabinet meeting will be held in an attempt to address fuel shortages and price spikes triggered by war in the Middle East.

Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.

The Australian share market has gained ground after the Reserve Bank lifted interest rates in a split decision that raised hopes the central bank might forgo third strike hike in May.

Fuel suppliers will have "the book thrown at them" if they are found to be profiteering off the conflict in the Middle East, the government says.

A drop in oil prices on Monday helped send the U.S. stock market to its best day since the war in Iran began.

The Australian share market has fallen as the US-Israeli war with Iran dragged into its third week and hopes dimmed for a quick resolution.

Ambitious tax reform is being flagged by the federal treasurer as the Middle East conflict hits the economy and home owners brace for an interest rate hike.

Oil prices have surged to more than $US105 a barrel as Donald Trump urges allies to deploy warships to help escort ships through the blocked Strait of Hormuz.

Australia's stock market has clocked a second straight week of losses and its worst fortnight since mid-2022 as the Iran war continues to crush investor sentiment.

The government has temporarily lowered Australia's fuel quality standards to boost supplies as the war in the Middle East disrupts global markets.

Qantas has agreed to cough up millions of dollars to kill off a class action against its contentious COVID-19 flight credits without conceding liability.

Australian shares have nosedived on reports Iran has attacked two oil tankers in Iraqi waters, snuffing de-escalation hopes and slingshotting crude prices skyward.

Liontown Resources has posted a $184 million loss for the half-year, while its 80 per cent renewable power mix buffers it from the fuel price fallout from the Middle East conflict.

The US stock market remained calm Wednesday, even as the price of oil got back to rising.

Australia's share market has defied a hawkish interest rate outlook to clock a second session of gains, as reports of a record release of crude reserves took the pressure off oil prices.

Wealthy superannuants will pay more tax on balances over $3 million after the Greens rolled over on demands to beef up the contentious new laws.

Firebrand senator Matt Canavan has taken over the leadership of the Nationals after edging out the deputy leader for the party's top job.

The US stock market held steadier Tuesday as Wall Street waited for the next signal on when the war with Iran may end.

Australia's share market has pared some early gains, after US government indications the Iran war might end soon couldn't sustain buying in the afternoon.

Foreign minister confirms more than 2600 Australians have arrived back from the UAE on 18 direct flights since the US-Israeli strikes were launched on Iran.

The U.S. stock market careened through a manic Monday, going from a steep early loss to a solid gain as worries turned into hope that the war with Iran may not last that long. Oil prices whipped from nearly $120 per barrel, their highest since 2022, back below $90.

The local share market has suffered its worst single-day loss in 11 months amid the widening war in the Middle East and a spike in oil prices.

Conflict in the Middle East may drive up grocery prices as farmers struggle to secure affordable fuel, as diesel suppliers are prioritising long-term contracts.

Oil prices have eclipsed $US100 per barrel for the first time in more than three and a half years as the Iran war hinders production and shipping in the Middle East.

The Trump administration's efforts to topple the Iranian regime have liberated local investors from their money, wiping more than $120 billion from Australia's bourse in a week.