SBS News In Depth Folgen

Energy supply disruptions caused by the war in Iran have slowed the global economy, pushing countries to applying energy-saving measures and explore alternative supply channels. Here in Australia, the government's halved fuel excise, some states are offering free public transport. Last week, International Energy Agency Executive Director Fatih Birol told the National Press Club in Sydney it made sense for people to work from home and avoid air travel. Asia is at the frontline of the fuel crisis, buying more than 80% of the crude that transits the Strait of Hormuz - and Australia's fuel supply largely comes from Asian refineries. So is the fuel crisis going to see governments bringing in COVID-style measures? Maybe not, but senior crude oil analyst at KPLER Data and Intelligence Naveen Das tells the Reuters news agency that just like during the COVID pandemic, the demand for oil will be, in his word, destroyed.

Brent crude surges as Middle East tensions escalate, sending fresh shockwaves through global energy markets and raising concerns the real supply crunch has yet to reach Australia. In this episode of the SBS On the Money Podcast, analysis from Saul Kavonic, Head of Energy Research at MST Marquee, unpacks why this spike is sharper and faster than 2022, while Luke McMillan from Ophir Asset Management explains what it all means for the ASX after shares fell amid rising inflation fears and interest rate pressure.

After weeks of pressure over surging petrol prices, the federal government has cut the tax on fuel in half. It's a three-month measure costing the budget billions, as the Prime Minister steps out a four-part plan to respond to the conflict.