Middle East

• World leaders will gather in New York starting Tuesday for several days of high-level debate at the United Nations General Assembly. • The assembly includes representatives from 193 member states, growing from the 51 original members that formed the organization in 1945. • This annual event provides a diplomatic platform for global leaders to address international conflicts and coordinate policy on shared global challenges.

• A building collapse in Gaza killed at least 21 people, including 12 children, amid widening Middle East conflicts. • The tragedy occurred alongside diplomatic stalemates in Cairo and delayed security talks in Oman. • Infrastructure strikes near the Strait of Hormuz and regional instability are disrupting diplomacy across Egypt, Iran, and the Persian Gulf.

• Houthi rebels in Yemen have advanced their positions, leading to Saudi counterstrikes and turning a vital Middle East shipping artery into a battlefield. • The conflict has resulted in extraordinary success for the rebels while causing severe humanitarian distress for Yemeni civilians. • This escalation threatens to create economic havoc by disrupting critical trade routes used by global markets.

• UN Secretary-General Antonio Guterres called for urgent de-escalation and a return to diplomacy across the Middle East to protect civilians and humanitarian operations. • The appeal follows threats to oil supplies and disruptions to freedom of navigation in the Strait of Hormuz, the Red Sea, Yemen, and Gaza. • Continued instability in these maritime corridors risks deepening global energy crises by interrupting the flow of oil.

The energy minister says Australia has 41 days’ worth on petrol in strategic reserve. Follow today’s news liveGet our breaking news email, free app or daily news podcastWestern Australian police have said a man had been shot at a residence on Owen Place in Hamilton Hill, around 4.35am this morning.In a statement, police and St John WA responded and provided emergency first aid to the victim.The man has been conveyed by St John WA to hospital with serious injuries. Police believe two males, dressed in all black clothing, were involved in the shooting.Significant police resources have been deployed and are conducting a thorough search of the area.The situation is getting worse in the Middle East. The dispute involving Saudi Arabia and the Houthis and the ongoing war in Iran is doing nothing to improve the fuel supply around the world and is pushing up prices of oil.We’re seeing that in the markets even overnight, and that will inevitably also flow through to Australia. However, the Australian government will remain firmly focused on ensuring our fuel security, just as we have for the last more than six months since this crisis began. Continue reading...

• European stock markets declined recently as investors reacted to rising Middle East tensions and awaited upcoming US inflation data. • Brent crude oil prices climbed toward the $100 per barrel mark, driving gains for stocks in the energy sector. • Higher energy costs increase the risk of global inflation, which may force central banks to keep interest rates high for a longer period.

• Oil prices are approaching $100 per barrel as tensions escalate in the Middle East. • Asian markets showed mixed results, with Hong Kong’s Hang Seng dropping 0.6% and Sydney slipping 0.3%. • A rebound in chip and AI stocks pushed Japan’s Nikkei up 0.6% and South Korea’s KOSPI up 1.6%.