Australian farmers, miners feel diesel squeeze with Iran war
The Straits Times
Diesel stocks are down to 30 days, said Australia's Energy Minister. Read more at straitstimes.com.
MELBOURNE/PERTH – Tight domestic diesel supplies due to limited stockpiles and far-flung distribution networks are rattling Australia’s farming and mining sectors, the main users of the transport fuel, as the Iran war disrupts global oil supplies.
With the war squeezing fuel availability, China banned exports of diesel, petrol and jet fuel last week, heightening fears of fuel shortages. Australia, Bangladesh and the Philippines are especially reliant on Chinese fuel supply.
Australia holds stockpiles far below global standards and in 2025 imported 84 per cent of its petroleum product needs, government statistics show.
“Australian farmers and miners are competing in a global marketplace for refined product. We are entirely dependent on those imports,” said CLSA analyst Baden Moore.
Given Australia’s vast distances, diesel is critical for regional businesses and communities, but shortages are beginning to bite. Diesel stocks are down to 30 days, Energy Minister Chris Bowen said on March 17.
“There has been an unprecedented rush on fuel – especially by bulk customers wanting to secure diesel before the full price impact hits,” said Australian Institute of Petroleum (AIP) chief executive officer Malcolm Roberts. AIP’s members include Mobil, BP and Australia’s two refiners, Viva Energy and Ampol.
MADRID, March 19 - Spain will delay the presentation of its annual budget, Prime Minister Pedro Sanchez said on Thursday, as the cabinet puts together a package of emergency measures to counter the economic impact of the Iran war. Read more at straitstimes.com.
The statue “was toppled in the 14th century and shattered into more than 10,000 fragments by looters”. Read more at straitstimes.com.
MOSCOW, March 19 - A senior Russian official called on Thursday for the creation of a safety zone around Iran's Russian-built Bushehr nuclear plant to prevent a major disaster, two days after a projectile struck within several hundred metres of its reactor. Read more at straitstimes.com.
WASHINGTON, March 19 - U.S. Defense Secretary Pete Hegseth said on Thursday that the United States' objectives in the war against Iran have not changed since strikes started on February 28. Read more at straitstimes.com.
DUBAI, March 19 - Iran's foreign minister called for vigilance and regional coordination in separate calls with counterparts in Turkey, Egypt and Pakistan as the military warned of a tougher response to any further attacks on its energy infrastructure, state media reported on Thursday. Read more at straitstimes.com.
Defence lawyers will be required to obtain clearances before appearing in national security cases. Read more at straitstimes.com.
ATHENS, March 19 - An air defence system operated by Greek military personnel in Saudi Arabia intercepted two ballistic missiles launched from Iran on Thursday, Greece's defence minister said. Read more at straitstimes.com.
Rescue missions in some areas have been restricted due to fuel shortage. Read more at straitstimes.com.
Diesel stocks are down to 30 days, said Australia's Energy Minister. Read more at straitstimes.com.
Authorities reported seven new cases of the disease that has killed two people so far. Read more at straitstimes.com.
Asia-bound travelers bypass Gulf hubs due to Iran conflict, boosting Singapore Airlines and other Asian carriers. Read more at straitstimes.com.
COPENHAGEN, March 19 - A Russian fighter jet violated neighbouring Estonia's airspace on Wednesday, triggering a response from NATO's Baltic Air Policing, Estonian Foreign Minister Margus Tsahkna said. Read more at straitstimes.com.
For years Washington had pressed China to arrest sellers of chemicals used to make the deadly drug. Read more at straitstimes.com.