Middle East crisis live: Iran steps up attacks on ports, tankers and oil terminals in campaign to disrupt energy markets

Iran has set ablaze two tankers in Iraqi waters as it increased attacks on oil and transport facilities across the Middle EastIran escalates attacks on infrastructure and transport across the GulfHow have you been affected by the latest Middle East events?The Australian government has announced a temporary downgrade in the country’s fuel quality standards, a move designed to put an extra 100m litres a month into the system.Federal energy minister Chris Bowen told parliament that in order to assist with putting downward pressure on prices, the government would allow a 60-day change to allow higher sulfur levels in fuel.While Australian fuel consumption has not changed, this will help relieve pressure on distribution chains disrupted by elevated demand.The government has been unequivocal – this additional supply must help the people who need it, including farmers, fishers and regional communities. Continue reading...