US-Iran war as it happened: US expects to end operation in ‘weeks, not months’, says Rubio; G7 call for attacks on civilians to stop; Israel attacks Iranian nuclear facilities

The Iran-backed Houthi rebels have claimed responsibility for a missile attack on Israel, their first since the war in the Middle East started.

Brigadier General Yahya Saree, a military spokesman for the Houthis, issued the claim in a statement aired on Saturday morning by the rebels’ Al-Masirah satellite television.

The Israeli military said it had intercepted the missile.

The attack came hours after Saree signalled in a vague statement on Friday that the rebels would join the war that has shocked the region and rattled the global economy.

AP

Earlier today, we reported on the Albanese government’s latest announcement: it will underwrite private sector purchases of fuel from the international market to shore up fuel security.

If amendments to be introduced to parliament on Monday are passed into law, Export Finance Australia, the government’s export credit agency, will be used to underwrite the fuel shipments.

Nowhere is immune to the soaring energy costs prompted by this war. Here are some of the measures nations worldwide have undertaken so far to offset the impact:

• India will review its fuel exports if needed to ensure availability in the local markets. The country has barred consumers with piped natural gas from retaining, obtaining or refilling domestic liquefied petroleum gas cylinders.
• South Korea is easing limits on coal-fired power-generation capacity and raising nuclear power plant utilisation to as high as 80 per cent. It is considering additional energy vouchers to support vulnerable households.

• China has banned refined fuel exports to pre-empt a potential domestic fuel shortage, four sources said. It is also releasing fertiliser supplies from national commercial reserves before spring planting.

• Japan has asked Australia, its biggest supplier of liquefied natural gas, to boost output. On Wednesday, the prime minister asked International Energy Agency chief Fatih Birol for an additional co-ordinated release of oil stockpiles.

• In Italy, prime minister Giorgia Meloni has said Italy is considering cutting excise duties to soften fuel prices and is ready to raise taxes on companies responsible for unduly capitalising on the energy crisis.

• In Spain, the prime minister said parliament was expected to vote on measures proposed by the cabinet to help citizens weather the economic fallout, including lowering fuel and electricity taxes and granting fuel subsidies to sectors most exposed to energy price spikes.

With AP, Bloomberg

The latest data from Victoria suggests areas outside Melbourne are still facing the most urgent fuel shortages, while diesel is more scarce than petrol.

Today, there were 99 stations without diesel statewide – 43 in Melbourne, 56 in regional Victoria – and 42 without petrol – 3 in Melbourne and 29 in the regions.

Earlier today, we heard that 366 service stations in NSW reported they were out of one fuel type, representing about 15 per cent of the total.

The ACCC yesterday reported average diesel prices in the five largest cities hit 303.5 cents per litre, rising 27.8 cents in a week.

The trend was even more pronounced in regional Australia, where diesel prices averaged 307.6 cents per litre, a 28.6 cent weekly jump.

Unleaded petrol prices hit 252.2 cents per litre.

On Saturday morning, 366 service stations in NSW reported they were out of one fuel type, representing about 15 per cent of the total.

Of those, the number of regional servos was steady while there was an increase in metro numbers, according to state government data.

There were 65 petrol stations across NSW reporting they were without any stock, a jump from 59 yesterday. Similarly, 221 stations were without diesel or premium diesel.