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The prime minister will hold talks with his opposite number to shore fuel suppliesGet our breaking news email, free app or daily news podcastLi Qiang noted that China-Australia economic and trade cooperation has strong internal momentum and still holds great potential in the long run. Beijing will adhere to expanding domestic demand as a strategic priority, vigorously boost consumption, promote a marked increase in the household consumption rate, and continuously unleash market demand, he said. Both sides should accelerate the review and upgrade discussions of the bilateral free trade agreement to provide stronger institutional support for cooperation.The statement said:There is great potential for China-Australia green cooperation, and China is willing to leverage complementary advantages with Australia to deepen cooperation in such areas as clean energy, electric vehicles, energy storage and carbon reduction, jointly building stronger momentum for the development of the green economy, he added. For his part, Albanese said the Australian government has always been committed to developing a stable, mature and constructive relationship with China. Under the current international circumstances, the steady development of Australia-China relations is particularly important. Australia has long adhered to the one-China policy and is willing to strengthen high-level exchanges with China, expand cooperation in trade, investment, mining, clean energy and people-to-people exchanges, properly manage differences in the spirit of mutual respect, and advance the Australia-China comprehensive strategic partnership. Continue reading...

The Middle East war has caused a significant increase in oil prices. Brent prices rose 30 per cent since the war began and pulled the coal futures up by 18 per cent too.

Schumer spoke after top House Democrat called for immediate vote on Donald Trump’s ‘reckless war of choice’Sign up for the Breaking News US emailPete Hegseth repeated Donald Trump’s social media comments that Iran will cease uranium enrichment – a condition that Tehran has previously refused to budge on.“Any material they should not have, will be removed right now,” Hegseth said. “The president has been clear from the beginning, there will be no Iranian nuclear weapons.” Continue reading...

As Israel attacks on Beirut continue, Abbas Araghchi points to announcement that says ceasefire includes Lebanon while JD Vance says US never promised thatMiddle East ceasefire in serious doubt as Israel assaults Lebanon and Iran blocks oil tankersWill shipping in the strait of Hormuz – and oil prices – return to normal?A genocidal threat, and then the US president, Donald Trump, blinked – without any apparently meaningful concessions from Iran. As in so much concerning the second Trump administration, the two week ceasefire “deal” that will see the strait of Hormuz reopened – if it can be described as such – is maddeningly vague and short on detail, apparently kicking the can on key issues down the road.Iran’s nuclear issue, Trump said, would be solved “perfectly.” “It was a big day for world peace”, Trump posted on Truth Social. “Iran can start reconstruction” he added. “Big money” could be made. Yada. Yada. Yada. Continue reading...

The message comes after US President Donald Trump said that he has agreed to suspend attacks on the Islamic Republic for two weeks only if the strait is opened in a "complete, immediate, and safe" manner.

MB Ghalibaf, the speaker of Iran's Parliament, declared a ceasefire and upcoming negotiations "unreasonable" after he accused the U.S. of violating a newly minted agreement.On Wednesday, Iran reportedly again shut down the Strait of Hormuz after Israel attacked Lebanon. For his part, President Donald Trump insisted that Lebanon had never been part of the ceasefire agreement. The U.S. president also said he had not agreed to a 10-point Iranian plan for peace as a framework for further negotiations.Ghalibaf posted a statement to X accusing the U.S. of violating the 10-point plan."As the President of the United States has clearly stated in his Truth, the Islamic Republic of Iran's 10-Point Proposal is a 'workable basis on which to negotiate' and the main framework for these talks," the statement said. "However, 3 clauses of this proposal have been violated so far."The speaker pointed to attacks on Lebanon, an alleged drone intrusion into Iran's airspace, and a denial of Iran's "right" to nuclear enrichment."Now, the very 'workable basis on which to negotiate' has been openly and clearly violated, even before the negotiations began," Ghalibaf wrote. "In such situation, a bilateral ceasefire or negotiations is unreasonable."

Situation still volatile as Tehran and Washington issue conflicting messages about opening of Hormuz channelA plunge in the oil price, stock market rally and renewed hopes for the global economic outlook. After the announcement of a two-week ceasefire in the Iran war, the relief in financial markets was palpable. But it is far from absolute.For the past six weeks, the economic damage had been steadily mounting, as the effective closure of the strait of Hormuz by Tehran triggered the worst energy crisis of the modern era. Continue reading...

Oil Refinery In Iran Struck Despite Ceasefire, Tehran Strikes Kuwait, UAE: Reports