The federal government cuts the fuel excise in half to lower petrol prices.

• Prime Minister Anthony Albanese calls on the US President Donald Trump to provide more certainty around the war in the Middle East
• Global beauty retailer Sephora under fire for marketing to children
• Opposition leader Angus Taylor rejects major changes to tax rules
• Gaming group Star Entertainment secures a big new funding package

Plus the next interview in our Accelerator series with Airwallex. Today’s guest: Nick Ryan, COO of Essendon Football Club, about how incremental improvements can make a big difference both on and off the field.

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The war in the Middle East has triggered a major oil shock — with supply through the Strait of Hormuz effectively shut and millions of barrels removed from the global market.

Nik Burns, Head of Energy Research at Jarden, says this isn’t just another short-term spike — it could mark a structural shift in global energy markets.

He talks to Sean Aylmer about why prices may stay elevated, what it means for investors, and why the path back to normal could take much longer than expected.

General information only. Seek professional advice tailored to your circumstances before making investment decisions.

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This is the Fear & Greed Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes.

1. Oil jumps, ASX off 0.7pc

2. Accused cop killer shot dead

3. Support for Labor tumbles

4. Ceasefire could be reached ‘fairly quickly’

5. Macy’s AI sales surge

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