ABC News (Australia)
Geelong refinery fire: Why petrol prices could spike | ABC NEWS
- Title
- Geelong refinery fire: Why petrol prices could spike | ABC NEWS
- Date posted
- 13 days ago
- Description
- A massive blaze at one of the nation's two major oil refineries has sparked fresh concerns over fuel supply and prices.
Viva Energy's Corio plant is responsible for 10 per cent of Australia's fuel supply and 50 per cent of Victoria's.
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Read more here: https://www.abc.net.au/news/2026-04-16/viva-energy-geelong-oil-refinery-fire-cause-petrol-prices/106570810
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Title
- AI is changing work as we know it | The Business | ABC NEWS
- Date posted
- 13 days ago
- Description
- Artificial intelligence is having a significant impact on our daily lives, from changing how we work to accessing services that we purchase. Lawyers are using the technology to assess cases, saving time and money. Hicksons is using it to redact personal details of people contained in thousands of documents.
"AI is now able to assist with that job and find the items faster and also point them out to the junior lawyers so they'll actually learn faster too," Hicksons partner David Fischl said. The Federal Court is also embracing the technology but insists it must be used responsibly. In the insurance sector, comparison website Compare Club says AI is helping customers find the right coverage faster. Superannuation's not escaping the rise of the robots either and is looking at how the technology can help members. Peak body, ASFA, wants to automate elements of financial planning, so far only done by humans. "The exciting thing might be that AI might be able to help them decide w...
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- AUD climbs to four-year high, Wall Street hits new record despite war | Finance Report | ABC NEWS
- Date posted
- 14 days ago
- Description
- The Australian dollar rose to its highest level in four years — after strong job numbers from the ABS raised the market’s expectations of an interest rate hike next month. Wall Street's main indices, the S&P 500 and Nasdaq Composite, have climbed to new record highs as investors overlook the economic damage caused by the Iran war. Finance presenter David Chau explains.
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Read more here: https://www.abc.net.au/news/2026-04-16/asx-markets-business-live-news-april-16/106569522
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Title
- Six Queensland councils are teaming up to tackle the soaring cost of house insurance | ABC NEWS
- Date posted
- 14 days ago
- Description
- The south-west Queensland councils are investigating developing their own non-for-profit insurance scheme.
#ABCNewsQueensland by Grace Nakamura
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Read more here: https://www.abc.net.au/news/2026-04-16/south-west-queensland-councils-insurance-mutual-premiums/106510446
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Australia’s drug crime pipeline to Fiji exposed | The Pacific | ABC NEWS
- Date posted
- 14 days ago
- Description
- An ABC Foreign Correspondent investigation reveals deepening links between Australian organised crime and Fiji’s escalating drug crisis, as authorities confront record meth seizures and a growing HIV epidemic tied to drug use.
Fiji reporter Lice Movono worked on the program and spoke with Johnson Raela about the reaction to the investigation. She also shares a rare interview with a convicted insider and offers a chilling look at how young men are drawn into the trade highlighting manipulation, fear, and the devastating personal cost behind the headlines.
‘The Pacific’ is hosted by Johnson Raela and Alice Lolohea. #ABCThePacific
Watch The Pacific on ABC Australia or on ABC iView: https://iview.abc.net.au/show/pacific
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- Title
- Rent controls could have saved Victorians thousands per year, report finds | ABC NEWS
- Date posted
- 14 days ago
- Description
- What if rents were capped in an Australian major city like Melbourne? It would mean a limit to how much your landlord could increase your rent year-on-year.
In a report exclusively seen by the ABC, the Victorian Parliamentary Budget Office has analysed just how much money renters could have saved across five years.
Rental affordability has hit a new low in Australia, with domestic tenants now spending an average of one third of their pre‑tax income on rent, according to property data firm Cotality.
Video by Grace McKinnon.
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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...
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- Young people surf their couches in a race to speak up about homelessness | ABC NEWS
- Date posted
- 14 days ago
- Description
- It's race like no other – young people have taken their couches out of the lounge room and onto the street, to speak up about youth homelessness. The yearly couch surfing event in Darwin is also a chance for young people to connect with the support they need to navigate tough times. By Felicity James for ABC News Northern Territory.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Govt to lift defence spending by $53bn over a decade | ABC NEWS
- Date posted
- 14 days ago
- Description
- Defence Minister Richard Marles says the government is acting as "the global rules-based order is under extreme pressure".
When asked about the public's perception of Australia's alliance with the US, Marles highlighted the extent our defence policy is linked to that of the US in the region.
"There is no world in which you create a balance of power within the Indo-Pacific without a continued American presence. We are deeply engaged with the United States's defence forces … we are throughout [the US] Indo-Pacific command. We make that point really clearly, and I do think that Australians understand that."
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Title
- The emotional toll of Alexa Leary's traumatic brain injury
- Date posted
- 14 days ago
- Description
- You might have seen Paralympian Alexa Leary winning gold medals, dancing on the pool deck and giving the most bubbly and joyous interviews. But the reality for Leary is that after her traumatic brain injury from a cycling accident 5 years ago, life is often far from fun. In her new book 'Sink or Swim' she talks mood swings, turning anger into peak performance and the song that will always remind her of Paralympic glory.
Featured: Alexa Leary.
To catch up on everything that’s making sports headlines recently, listen to more episodes of ABC Sport Daily,’ hosted by Patrick Stack on ABC listen or wherever you get your podcasts, and get in touch with them on social media via @abc_sport. In the episodes we will cover big sporting personalities and all sports, including cricket, soccer, F1, NBA, AFL, AFLW to NRLW & NRL news, to covering competitions like the Olympics, the World Cup, The Ashes, Grand Prix and Grand Finals and more.
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- Lives lost as cyclones tear through Pacific | The Pacific | ABC News
- Date posted
- 14 days ago
- Description
- The Pacific is reeling after monster category five storms have left a trail of destruction across the region.
In PNG and Bougainville the death toll continues to rise following cyclone Maila and in Micronesia, as Typhoon Sinlaku eases, communities are facing months of recovery.
‘The Pacific’ is hosted by Johnson Raela and Alice Lolohea. #ABCThePacific
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- NSW nurses, midwives awarded major pay rise | ABC NEWS
- Date posted
- 14 days ago
- Description
- NSW nurses and midwives have been awarded a major pay rise following a decision by the Industrial Relations Commission, which found their work had been significantly undervalued.
In delivering the decision, commission president Justice Ingmar Taylor said there was a "real possibility their work is undervalued for gender reasons".
But he said the commission also had to take into account the state of the NSW economy, and that every extra 1% would cost the government $74.5 million per year.
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Title
- The Two Intruders: Verdict | The Case Of...
- Date posted
- 14 days ago
- Description
- After five days of deliberations, the jury has decided whether Steve Fabriczy and Joseph Vekony are guilty of murdering Irma Palasics.
In this episode, Elizabeth Byrne and James Vyver take us inside the courtroom as the jury return their verdict and talk through the key evidence which led to their decision.
If you have any questions you'd like Liz, James and Stocky to answer in future episodes, please email thecaseof@abc.net.au
The Case Of is the follow-up to the hit podcast Mushroom Case Daily, and all episodes of that show will remain available in the back catalogue of The Case Of.
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- Sydney and Melbourne auction clearance rates dive | ABC NEWS
- Date posted
- 14 days ago
- Description
- Auction clearance rates in Sydney have hit their lowest rates since the COVID-19 era – below 50 per cent. And Melbourne is hovering just above 50 per cent and down from 62.2 per cent last year.
Clearance rates in the low 50s or below are historically correlated with falling prices.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- This PNG hotel says Australia owes $11m for housing former Manus Is. refugees | ABC NEWS
- Date posted
- 14 days ago
- Description
- A hotel in Papua New Guinea is attempting to sue the Australian government for $11 million in unpaid accommodation costs for refugees previously detained on Manus Island.
📸 via ABC News by Papua New Guinea correspondent Marian Faa.
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Fmr US Marines pilot accused of aiding Chinese military faces extradition to US | ABC NEWS
- Date posted
- 14 days ago
- Description
- A former United States Marine Corp pilot has had his bid to avoid extradition from Australia dismissed. Daniel Duggan is an Australian citizen accused of unlawfully aiding the Chinese military. He has denied the allegations and could face up to 65-years in a US prison if found guilty.
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Read more here: https://www.abc.net.au/news/2026-04-16/former-us-marine-pilot-dan-duggan-to-be-extradited-australia/106570508
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Title
- NSW nurses, midwives awarded pay rises of 16-28% over three years | ABC NEWS
- Date posted
- 14 days ago
- Description
- NSW nurses and midwives have been awarded a pay rise following a decision by the state's Industrial Relations Commission, which found their work had been significantly undervalued, likely because most are women.
Registered nurses will receive a 10 per cent pay bump in the first year of the deal, before rises of 3 per cent in each the two years afterwards. For enrolled nurses, it's 12 per cent in the first year and for assistant nurses it's up to 22 per cent in the first year.
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Read more here: https://www.abc.net.au/news/2026-04-16/nsw-nurses-midwives-awarded-major-pay-rise/106570142
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- WATCH NOW: Authorities provide a briefing on oil refinery fire in Geelong | ABC NEWS
- Date posted
- 14 days ago
- Description
- A multi-agency briefing has been held after fire crews extinguished a blaze at Viva Oil Refinery in Corio.
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Read more here: https://www.abc.net.au/news/2026-04-16/geelong-oil-refinery-fire-live-updates/106570266
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- IN FULL: Energy Minister Chris Bowen speaks about fuel supplies | ABC NEWS
- Date posted
- 14 days ago
- Description
- Energy Minister Chris Bowen is speaking to the media about Australia's oil supplies amid the global energy crisis and a large fire at an oil refinery near Geelong.
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Read more here: https://www.abc.net.au/news/2026-04-16/refinery-blaze-impact-petrol-production/106559468
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- Israeli strikes on Gaza continue despite ceasefire | ABC NEWS
- Date posted
- 14 days ago
- Description
- Palestinians in Gaza fear the world has forgotten them as war between the US, Israel and Iran engulfs the broader Middle East.
Israeli strikes in Gaza have continued despite a ceasefire being in place, and while Israel claims they are targeting Hamas militants, women and children are among the casualties.
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Read more here: https://www.abc.net.au/news/2026-04-16/iran-israel-war-daily-briefing/106569780
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Uncounted ballots discovered for SA seat closely won by One Nation | ABC NEWS
- Date posted
- 14 days ago
- Description
- South Australia's electoral commission has uncovered ballot papers that were not counted in the seat of Narungga on the state's Yorke Peninsula.
One Nation's Chantelle Thomas won the seat by a margin of just 58 votes.
The electoral commission has ordered a recount for the district following the discovery, but they say the result of the seat has already been declared.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- IN FULL: Australia signs MOU with Malaysia | ABC NEWS
- Date posted
- 14 days ago
- Description
- Malaysian Prime Minister Anwar Ibrahim and Australian Prime Minister Anthony Albanese hold a joint news conference after signing a memorandum of understanding in the wake of their bilateral meeting.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- IN FULL: Deputy Prime Minister Richard Marles speaks at National Press Club | ABC NEWS
- Date posted
- 14 days ago
- Description
- Richard Marles, Deputy Prime Minister of Australia and Minister of Defence, addresses the National Press Club of Australia on “Launch of the 2026 National Defence Strategy and Integrated Investment Program”.
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- IN FULL: Victorian Premier Jacinta Allan speaking after oil refinery fire | ABC NEWS
- Date posted
- 14 days ago
- Description
- The Victorian Premier Jacinta Allan spoke to press after a fire at Viva Energy's Geelong refinery.
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- How are firefighters battling the Viva oil refinery fire at Geelong? | ABC NEWS
- Date posted
- 14 days ago
- Description
- Deputy Commissioner of Fire and Rescue Victoria says the fire at the Viva oil refinery at Geelong is under control and firefigheters should be able to access the facility and switch off the valves in the next few hours.
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- White House says it hasn't requested ceasefire extension but talks with Iran in the cards | ABC NEWS
- Date posted
- 14 days ago
- Description
- The fragile ceasefire between the US and Iran is expected to expire next week. The White House says it hasn't formally asked for an extension to the truce but Pakistani mediators have arrived in Tehran to help revive peace talks with the United States.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- How could the Geelong Viva oil refinery fire affect petrol prices ? | ABC NEWS
- Date posted
- 14 days ago
- Description
- Energy analyst Kevin Morrison says the fire at Viva's oil refinery in Geelong has occurred at the petrol-producing section of the plant – it's largest production sector.
Around one-sixth of Australia's petrol is produced at that plant and it will result in a decrease in petrol production when the international market is already tight.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Malaysia may take dim view of any Australian gas profits tax: Tingle | ABC NEWS
- Date posted
- 14 days ago
- Description
- Global Affairs Editor Laura Tingle says Malaysia may take a dim view of a proposed tax on Australian gas companies' windfall profits as they are heavily reliant on Australia for its LNG imports.
It comes as Anthony Albanese continues his mission through south-east Asia to shore up Australia's energy and fertiliser supply.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Refinery fire further highlights Australia too exposed to energy shocks | ABC NEWS
- Date posted
- 14 days ago
- Description
- Energy Minister Chris Bowen has warned a fire at an oil refinery in Geelong may impact domestic petrol production for some time. Diesel and jet fuel are continuing to be produced "at reduced levels" with petrol production likely to be most impacted.
Bowen says the fire is 'not a positive development' and comes as the federal government tries to shore up support from other countries to secure fuel supply.
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ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Nine killed in Türkiye's second school shooting in two days | ABC NEWS
- Date posted
- 14 days ago
- Description
- A 14-year-old student has killed eight children and a teacher during a school shooting in Türkiye. It’s the country’s second school shooting in just two days. Subscribe: http://ab.co/1svxLVE
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Title
- Fire at Geelong oil refinery will have impact on production: Chris Bowen | ABC NEWS
- Date posted
- 14 days ago
- Description
- Energy Minister Chris Bowen speaks to News Breakfast about the fire at one of two oil refineries in Australia. A fire broke out at the Viva Energy Refinery in Corio, Victoria at 11pm Wednesday night.
He says the refinery is still producing diesel and jet fuel, however a major impact will be felt on petrol production.
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Read more here: https://www.abc.net.au/news/2026-04-16/geelong-corio-refinery-fire/106569692
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- Title
- The President vs the Pope | ABC News Daily podcast
- Date posted
- 14 days ago
- Description
- What’s behind US President Donald Trump’s attack on Pope Leo?
After the leader of the Catholic Church criticised Trump’s threats to destroy Iranian civilisation, the president unleashed.
Trump dismissed the Pope as ‘weak on crime and terrible on foreign policy’.
Debate over the US leader's mental health has reignited since the fuel erupted and he posted an AI image depicting himself as Jesus.
Today, David A. Graham from The Atlantic magazine on what Trump’s behaviour says about his ability to govern.
Featured:
David A. Graham, staff writer at The Atlantic
- Title
- Israel and Hezbollah considering temporary ceasefire in Lebanon | ABC NEWS
- Date posted
- 14 days ago
- Description
- Advanced talks for a truce that would pause fighting between Israel and Hezbollah are reportedly underway. It follows US-mediated talks between Lebanon and Israel in Washington. However, both Hezbollah and Israel continue to launch attacks.
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Read more here: https://www.abc.net.au/news/2026-04-16/iran-war-live-updates-ceasefire-extension-lebanon-israel/106569698
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- Out-of-control fire rages at Geelong oil refinery | ABC NEWS
- Date posted
- 14 days ago
- Description
- A fire has broken out at one of Australia's two remaining oil refineries, with emergency services responding to reports of "explosions and flames". All refinery staff have been accounted for. Subscribe: http://ab.co/1svxLVE
Read more here: https://www.abc.net.au/news/2026-04-16/geelong-corio-refinery-fire/106569692
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- Sudan's civil war enters its fourth year | The World | ABC NEWS
- Date posted
- 14 days ago
- Description
- April 15, 2026 marks three years since the start of Sudan's civil war; when hostilities between the Sudanese army and the Paramilitary Rapid Support Forces began. Non-governmental organisations estimate the conflict has resulted in the largest displacement crisis in the world. Eva Hinds, the chief of advocacy and communications at UNICEF Sudan, tells The World whether the worsening situation is being overlooked. #ABCTheWorld #ABCAsiaPacific
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- Title
- Is Claude Mythos the major AI hacking tool it's hyped to be? | The World | ABC NEWS
- Date posted
- 14 days ago
- Description
- Artificial intelligence firm Anthropic says it has created an AI model so powerful, it had to withhold its public release. Anthropic claims its Claude Mythos model has uncovered software vulnerabilities and bugs in every major operating system and web browser, meaning it could become a major hacking tool. Dr. Saeed Akhlaghpour, an associate professor of business information systems at the University of Queensland, tells The World whether its capabilities are being over-hyped by Anthropic to whip up publicity. #ABCTheWorld #ABCAsiaPacific
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- Title
- US-Iran war: Will Tehran ask Yemen's Houthis to blockade the 'Gate of Tears'? | The World | ABC News
- Date posted
- 14 days ago
- Description
- The US military says it has "completely halted economic trade going into and out of Iran by sea". But tracking data shows at least three ships sailing from Iranian ports still managed to cross the Strait of Hormuz. Questions now surround whether Iran can exploit another global trading bottleneck, the Bab Al Mandab Strait, also known as "The Gate of Tears". It's situated between Djibouti and Yemen, and Iran-backed Houthi rebels are more than capable of disrupting it. Jennifer Parker, a former Australian navy warfare officer and now with the National Security College at ANU spoke to The World's Girish Sawlani about what a possible new front in the Middle East conflict. #ABCTheWorld #ABCAsiaPacific
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- Title
- Devotees welcome new year in Pakistan and Bangladesh | The World | ABC NEWS
- Date posted
- 14 days ago
- Description
- April marks a special time of the year for many people across South Asia, and thousands have taken part in festivals of renewal across Bangladesh and Pakistan. As Rebecca Johnston reports, villages erupted in seas of colour, and ancient rituals once again given new life.
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- Super Typhoon Sinlaku batters Mariana Islands | The World | ABC NEWS
- Date posted
- 14 days ago
- Description
- A super typhoon has battered a pair of remote US islands in the Pacific with strong winds and relentless rains. Super Typhoon Sinlaku peaked as a category five system as it moved slowly over Saipan and Tinian in the Commonwealth of the Northern Mariana Islands. Manny Tsigas reports. #ABCTheWorld #ABCAsiaPacific
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- Title
- Backpacker jobs disappearing as fuel crisis hits outback tourism | ABC NEWS
- Date posted
- 14 days ago
- Description
- Backpacker work in the outback is drying up amid rising fuel costs and a reduction in regional tourism.
One roadhouse says it's experienced a 76 per cent loss of revenue and has cut seven of its nine seasonal staff.
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Read more here: https://www.abc.net.au/news/2026-04-15/outback-workers-cut-as-tourists-stay-away-fuel-crisis-sa/106537958
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- Wright Prospecting awarded royalties after legal battle with Gina Rinehart | ABC NEWS
- Date posted
- 14 days ago
- Description
- Gina Rinehart, Australia's richest person, has suffered a significant legal blow after a blockbuster court battle.
A court ruled the family of former mining pioneer Peter Wright has the rights to royalties from her Hope Downs mine in WA's Pilbara.
But it wasn't all bad news for the billionaire mining magnate, as the judge dismissed claims to ownership shares of Hancock Propsecting from both Mr Wright's descendants and two of Rinehart's own children.
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- Virgin joins Qantas in dropping flights due to surging cost of jet fuel | ABC NEWS
- Date posted
- 14 days ago
- Description
- Australian airlines are reducing domestic flight capacity, increasing fares and warning investors about surging fuel costs, as war in the Middle East creates energy shocks around the world.
Virgin is facing an extra $30–40 million in fuel costs in the second half of the current financial year, while Qantas flagged additional costs of up to $800 million.
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- Prince Harry talks footy, mental health before brief stop in Canberra to pay respects | ABC NEWS
- Date posted
- 14 days ago
- Description
- Prince Harry has continued his tour of Australia, talking football, fatherhood, and mental health in Melbourne.
The Duke of Sussex then headed to Canberra, without his wife Meghan, for sombre commemorations at the Australian War Memorial.
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- Victorian Premier Jacinta Allan reveals her reshuffled cabinet ahead of state election | ABC NEWS
- Date posted
- 14 days ago
- Description
- Victoria's new cabinet has been sworn in, with Frankston MP Paul Edbrooke taking up the newly created cost of living portfolio.
By Leanne Wong for ABC News Victoria
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Read more here: https://www.abc.net.au/news/2026-04-15/victorian-premier-jacinta-allan-reveals-reshuffled-cabinet/106566270
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- Title
- Food delivery firms want Queensland’s proposed e-bike licensing laws scrapped | ABC NEWS
- Date posted
- 14 days ago
- Description
- Some food takeaway delivery companies say draft e-scooter and e-bike laws could have an “immense” impact on its riders.
#ABCNewsQld by Jack McKay
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- Medical workers say Mount Gambier flight cancellations will affect services | ABC NEWS
- Date posted
- 14 days ago
- Description
- Qantas will cancel flights between Mount Gambier and Adelaide from May 18, citing fuel costs and declining demand, with medical workers warning healthcare will suffer.
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- Title
- Anthony Albanese meets with Sultan of Brunei to shore up fertiliser and fuel supplies | ABC NEWS
- Date posted
- 14 days ago
- Description
- Anthony Albanese has held talks with one of the richest men in the world, the Sultan of Brunei, as he makes another tour of South East Asia to try and keep fuel flowing to Australia.
It comes as the Trump administration maintains its blockade on the Strait of Hormuz, and the IMF warns the war could hammer the global economy.
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- Israel, Lebanon commence high level talks in Washington | ABC NEWS
- Date posted
- 14 days ago
- Description
- Israel's war against Hezbollah in Lebanon has killed more than two thousand people. However there is some optimism, after the first high level talks between Israel and Lebanon in 33 years.
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- Markets decide 'war is over' with ASX higher and oil price down | Finance Report | ABC NEWS
- Date posted
- 15 days ago
- Description
- The local share market rose as global investors bet on the US-Iran war being over within months, while oil prices fell.
But despite the market optimism, national fuel prices are yet to rebound amid supply shortages and surging inflation, as finance presenter Alan Kohler explains.
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Read more here: https://www.abc.net.au/news/2026-04-15/asx-markets-business-live-news/106565754
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- Title
- World on brink of global recession if oil price shock continues: IMF | The Business | ABC NEWS
- Date posted
- 15 days ago
- Description
- The International Monetary Fund has cut its growth outlook due to the Middle East war triggering a global energy shock. The IMF warned the global economy would teeter on the brink of recession if the conflict worsens and oil prices stay above $100 per barrel through 2027. As the Strait of Hormuz remains closed and the US halts economic trade to Iran through its blockade, ships are being left stranded, supply chains are upended and oil and gas prices are climbing higher. In a "severe scenario", in which energy supply disruptions extend into next year and oil prices average $US110 a barrel this year and $US125 next, the IMF warns growth could slow to about 2 per cent in 2026 and 2027, while inflation "would exceed 6 per cent". Speaking before flying to the US to attend G20, IMF and World Bank meetings, Treasurer Jim Chalmers said the May budget would be responsible. The IMF and economists warn against big spending measures in the budget that would further spark inflation.
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- Title
- Russian flags return at some international swimming events
- Date posted
- 15 days ago
- Description
- World Aquatics will soon allow Russian and Belarusian athletes to compete without restrictions for the first time since 2022.
Emeritus Professor David Rowe is an expert on the crossover between culture and sport, so we asked him what he thinks this might signal.
🎥 Video by Lia Walsh
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