Thanks for reading our live coverage of the conflict in the Middle East. Our rolling blog will continue at a new link, which you can find here.
Here’s a wrap of what we covered in the last 24 hours.
- At least 19 commercial ships have been damaged so far in the war, figures showed Thursday. Through Wednesday night, there had been at least 16 vessels attacked in the Persian Gulf and the wider region. An oil rig separately was attacked off Saudi Arabia, as well. Overnight, two ships were hit by Iranian fire at a port near Basra, Iraq. Another was attacked Thursday off the coast of the United Arab Emirates.
- As a result of the war and Iran’s targeting of commercial vessels, petrol prices are at risk of rising to levels “not seen in history” as war in the Middle East causes unprecedented disruption to oil supplies, a leading commodities expert warns. The price of a barrel of crude oil, the international standard, topped $US100 ($142) a barrel on Thursday.
- The International Energy Agency announced its 32 member countries had agreed to release 400 million barrels of oil to cater for the soaring demand. Australia is weighing up exactly how to contribute to this total.
- Energy Minister Chris Bowen has also announced Australia will temporarily relax fuel quality standards for the next 60 days. The move is aimed at increasing the amount of sulphur permitted in fuel to 50 parts per million, compared to the usual 10 parts per million.
- Mortgage holders are being warned interest rates could hit a 15-year high by the end of the year, as surging oil prices prompt all four big banks to tip an impending rate hike next Tuesday.
- The Australian Government has directed the departure of non-essential Australian officials posted to Israel and the UAE, due to the deteriorating security situation. Essential staff remain in the region to help the estimated 115,000 Australians still in the Middle East.
- Israel’s defence minister Israel Katz held a security assessment with military officials Thursday in the army’s headquarters in Tel Aviv, after the largest attack yet by Lebanon-based Hezbollah in the Iran war. He warned Lebanon that if its government does not prevent Hezbollah from attacking, Israel “will take the territory and do it ourselves.”
- And Australia will provide humanitarian assistance to members of the Iranian women’s soccer team who have been granted asylum there. Deputy Prime Minister Richard Marles said during a visit to Jakarta on Thursday that it was a “sensitive issue” since Australia granted asylum to seven team members. One changed her mind and departed Australia with the remainder of the team. “From here, those six people have stayed and they will be given all the assistance that people on humanitarian visas in Australia are given,” Marles said.