Radio National Breakfast
Radio National Breakfast
ABC Australia
What the Middle East escalation means for Australia's oil prices
6 minutes Posted Jul 13, 2026 at 9:30 pm.
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The battle for control of the Strait of Hormuz has intensified overnight, with U-S President Donald Trump announcing a new naval blockade of ports - and a proposal for a 20 per cent charge on carriers to help maintain security in the vital passage.