US-Iran war live updates: Trump reveals oil ‘present’ from Iran; Israel claims it killed navy chief in strike; White House confirms it sent 15-point peace plan via Pakistan

Opposition Leader Angus Taylor has called on the government to slash the fuel excise to bring down the cost of petrol, as the US-Israeli war in Iran continues to drive up domestic prices.

“I’ve written to the prime minister, and I have called on the government to … halve the fuel excise,” Taylor said, speaking at a Canberra service station where diesel was more than $3.15 a litre.

“[A halving of the excise] will mean 26¢ a litre off at the bowser for all hardworking Australians who need that relief right now,” he said.

Taylor said he was also urging the government to halve the road user charge, “which will flow through to transport costs and take pressure off the cost of transport for food and all those other goods that Australians have to pay for every single day”.

“We have proposed a fully funded package that will not put pressure on inflation,” he said.

Taylor proposed the budget hole that would be caused by a cut to fuel excise should be replaced by scrapping EV tax breaks, cutting green hydrogen projects, and freezing the home battery scheme.

A draft UN resolution on freeing navigation in the Strait of Hormuz is under discussion after France convened 35 countries to plan the reopening of the key waterway once the US-Israeli war with Iran ends.

French Foreign Minister Jean-Noël Barrot said representatives were discussing a “strictly defensive” international mission in the critical strait, the Associated Press reported.

The mission would involve escorting ships once calm in the region is restored, ushering traffic through the strait as soon as possible with the goal of lowering global energy prices.

We reported earlier that Iran appears to be setting itself up as the gatekeeper for the Strait of Hormuz.

The Islamic Revolutionary Guard Corps is vetting ships seeking passage through the strait and the Iranian parliament is reportedly planning to formalise fees for some ships using the waterway.

The Australian sharemarket is expected to fall when it opens today after doubts that the Middle East conflict will end soon hit Wall Street.

US stocks had their worst day on Thursday since the US-Israeli war on Iran began.

The S&P 500 fell 1.7 per cent and the index is headed for a fifth straight losing week, which would be the longest such losing streak in almost four years.

The Dow Jones Industrial Average fell 1 per cent and the Nasdaq composite sank 2.4 per cent. They’re the latest flip-flops for financial markets this week after Iran rejected a US offer for a ceasefire.

with AP

Deputy Prime Minister Richard Marles said Australia was doing everything it had been asked after Donald Trump’s latest broadside, in which the US president said Australia had not been “great” in its level of military support for his war in Iran.

“We have been providing an E-7 [aircraft] for the defence of the Gulf states,” Marles told Nine’s Today.

“That was at the request of the UAE. The one request we’ve had from the United States is to provide support for the Gulf states, which is, in fact, what we are doing, and that’s where we see our national interest,” he said, referencing Australia’s large expat populations in the UAE.

Marles added that Australia had received no request from the US regarding assistance to reopen the Strait of Hormuz.

Environment Minister Murray Watt said he would not “give a running commentary on the various statements of President Trump” when asked about the criticism.

“What we’re going to do is focus on what’s in Australia’s national interest. It’s been very widely reported that we’ve delivered the support that we’ve been asked for, which is a defensive support for the UAE,” he told ABC’s Radio National.

The war in Lebanon has now cost 1116 people their lives, according to the latest statement from the Lebanese government.

The war has also left 3229 wounded since the hostilities began on March 2, according to the official statement relayed by the National News Agency in Lebanon.

More than 1 million people have been displaced from their homes, with many sleeping on streets or in parks.

While some have been able to flee the evacuated areas to stay with family in safer parts of the country, the government says 136,262 people are living in temporary shelters.

Donald Trump said he is giving Iran another 10 days to negotiate on ending the war before possible strikes on energy infrastructure.

The US president originally gave Tehran until this weekend to make a deal or face the destruction of domestic oil, gas and electricity facilities.

He now says that is off the table until at least April 6.

“As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time,” he posted on Truth Social.

“Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well. Thank you for your attention to this matter!”

The US has not targeted Iranian energy infrastructure thus far in the war, despite Trump’s repeated threats.