AAP

Fuel stations and suppliers which unfairly raise prices will be hit with fines of up to $100 million under new laws which passed parliament today.

The Iran war will hurt consumers by pushing up prices and slowing the economy but the Reserve Bank must act to contain inflation expectations, an official says.

Wall Street's main indexes have closed higher as oil prices fell while Iran reviewed a US proposal to end the war in the Middle ‌East, feeding investor hopes for de-escalation in the fourth week.

The local share market has had its best day in almost a year, after reports the US is seeking a ceasefire with Iran buoyed investor sentiment.

Australia's headline inflation rate fell in the final data before the Iran war up-ended the global economy, but Perth's inflation figure was significantly up compared to other capital cities.

A key aluminium smelter will receive billions of dollars in government funding to stay open until 2040, the latest metals manufacturer to be bailed out.

Wall Street indexes lost ground in Tuesday's volatile session as investors swayed between fears ‌of rising oil prices and hopes for a resolution to the US-Israeli war on Iran.

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.

Diesel standards have been lowered to help suppliers bring more fuel into the domestic market as hundreds of service stations across the country run dry, including six in WA.

A major Australian department store operator is planning a big expansion of its e-commerce product categories when it launches a new marketplace platform in the coming months.

European-made wine, cars and fashion items will get cheaper for Australian shoppers under a long-awaited free-trade deal that will also allow local farmers to expand their meat exports.

A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.

Australia's share market has trimmed some losses but still ended at its lowest level since May 2025, as the Middle East conflict continues to wreak havoc on energy prices.

A snap assessment of Australia's grocery supply chains will investigate how the Middle East war is impacting the way food is grown and transported around the nation.

The prime minister has been phoning his global counterparts to try and shore up Australia's fuel stocks over the coming weeks and months, as the Middle East war sends shockwaves through global supply chains.

Wall Street ended sharply lower on Friday, with the S&P 500 closing at its lowest in six months, as the US-Israeli war ‌against Iran entered its fourth week, deepening worries about inflation and the potential for higher interest rates.

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.