The Reserve Bank of Australia (RBA) has hiked interest rates by 0.25 of a percentage point. That means the cash rate is now 4.1 per cent. Leading economists predicted the hike, given inflation was already increasing ahead of the Middle East war, which has put more upward pressure on prices due to oil market disruptions. You can follow the reaction to the RBA’s …

Oil refineries, depots and tankers have all been key targets of US-Israeli and Iranian drone and missile strikes in the first weeks of the war in the Middle East. The attacks have driven oil prices higher internationally, prompting the International Energy Agency (IEA) to announce the release of 400 million barrels of oil from its 32-member countries. In Oman, Saudi …

Two weeks into the war in the Middle East, Iran’s military command said the world should be prepared for oil to hit $US200 ($286) a barrel. But what exactly does that mean for Australians? The war has thrown global economic activity into chaos, disrupting the flow of oil as Iran attacks vessels in the Strait of Hormuz, where about 20 …

The federal government’s decision to ease Australia’s fuel standards in response to elevated oil prices has sparked intense discussion about what it will mean for consumers at the pump. The release of so-called “dirty” fuel into the domestic market — along with the government’s drawing-down of strategic reserves — is intended to ease fears of a fuel shortage brought on by the war in …

The Matildas will face China PR in the semifinals of the Women’s Asian Cup after the Steel Roses required extra time to see off a disciplined and spirited Chinese Taipei at Perth Rectangular Stadium. China huffed and puffed for the entirety of an energy-sapping afternoon in the west, but was forced to wait until the 94th minute to belatedly blow …

US President Donald Trump has threatened to strike the oil infrastructure of Iran’s Kharg Island hub unless Tehran stopped attacking vessels in the Strait of Hormuz, a warning that could further shake markets coping with a historic supply disruption. Mr Trump paired his Friday ultimatum with a social media post saying the US had “totally obliterated” military targets on the …

Andrew Mountbatten-Windsor has been arrested at his eastern England home on suspicion of misconduct in public office. Thames Valley Police says officers are also executing two searches on properties in Berkshire and Norfolk. Follow our live blog for the latest updates. Andrew has returned a royal Norwegian honor he received nearly four decades ago, Norway’s palace confirmed on Thursday. The Order of …

Australian citizens could be indefinitely banned from returning from overseas under domestic counterterrorism  laws, experts have told the ABC. Earlier this week a group of 34 women and children, who are Australian citizens affiliated with Islamic State militants, attempted to return to Australia from a Syrian refugee camp. One of the women has been barred from returning after being given a …

Angus Taylor has elevated a new generation of right-faction Liberals into his new-look shadow ministry and reinstated the suspended Nationals to the Coalition front bench. The federal opposition leader confirmed the promotion of prominent figures, including West Australian MP Andrew Hastie and Northern Territory senator Jacinta Nampijinpa Price. “This is a team that blends proven experience with the next generation …

A Sydney man has been charged with allegedly sending a threatening letter to a mosque, which also included threats towards Aboriginal Australians and some politicians. NSW Police arrested the 70-year-old during a raid of a home in Belmore, in Sydney’s west, on Saturday night, where officers seized more than 100 letters, stamps, notepads and several electronic devices. It is one …