Australia ‘prepared to provide assistance’ in the strait of Hormuz, PM says, as ‘fragile’ opening expected to ease fuel prices (opens in new tab)

Anthony Albanese was in meeting of 49 countries to discuss key shipping route when news broke that Iran was reopening straitGet our breaking news email, free app or daily news podcastAustralians can expect further falls in fuel costs but it could be a week before a dramatic drop in global oil prices translates to lower bills at the bowser.Global oil prices dropped about 10% early on Saturday after Iran declared overnight that the strait of Hormuz – a key route for oil shipments – would be ope...