We Cover the Latest News in Economy  Politics  States  Indigenous  Foreign affairs  Business  Defence  Immigration  Local news 

LATEST NEWS
TRENDING NEWS
FOREIGN AFFAIRS
Markets, oil shock fears loom over Trump

Markets, oil shock fears loom over Trump as Iran war drags on

As the United States pushes its war with Iran into a fifth day, Donald Trump is promising perseverance.

However, a swift sell off in international markets and an increase in energy prices are intensifying what analysts perceive to be the White House’s most pressing constraint.

While providing little information about how the campaign will conclude, the president has framed it as a decisive effort in support of Israel.

Trump claimed that the US had a “virtually unlimited supply” of weapons in a social media post, claiming that stockpiles could be used to fight wars forever.

He gave an approximate time frame, stating at a White House event that the operation was expected to take four to five weeks and adding, “Whatever it takes.”

Investor concerns about an oil shock are clashing with that open ended stance.

Due to traders reactions to potential disruptions in the Strait of Hormuz a crucial shipping route for LNG and oil worldwide, Brent crude increased to roughly US $84 per barrel on Wednesday.

As money moved into conventional safe havens like the US dollar and gold, equity markets in Asia and Europe declined once more.

In response to the market reaction, former Goldman Sachs strategist Robin Brooks called financial markets the “ultimate constraint” on Trump, contending that persistent volatility can compel political recalibration.

The concept is gaining momentum as the administration, which is already under fire for tariffs and inflation, faces the possibility that rising fuel and freight prices could soon have a negative impact on household budgets.

Additionally, political boundaries are becoming more stringent. Lawmakers from both parties in Washington are calling for a vote on war powers, which would aim to limit military action without express congressional consent.

Also Read: ‘Be relentlessly lethal’: US admiral pre strike message to troops surfaces as Iran war intensifies

The conflict overseas is putting alliances to the test and making logistics more difficult. In the midst of widespread flight cancellations in the region, governments are rushing to manage travel disruption, and European leaders have issued warnings about spillover risks.

Trump is projecting confidence and endurance for the time being.

However, the true test may be whether the economic blowback remains contained or becomes the force that limits the White House’s options more quickly than any development on the battlefield as oil prices rise and markets tremble.

MORE TOP HEADLINES
JUST IN
RECOMMENDED FOR YOU ​
Evelyn Araluen just won $125,000 at the Victorian Premier’s Literary Awards

Why Evelyn Araluen just won $125,000 at the Victorian Premier’s Literary Awards

Poet and educator Evelyn Araluen has won a total of $125,000 at the 2026 Victorian Premier’s Literary Awards. She took out the $100,000 Victorian Prize for Literature and the $25,000 Indigenous Writing award for her second collection, The Rot.

Judges praised the book as formally bold, emotionally exacting and politically uncompromising. They called it an important contribution to Australia’s cultural conversation.

Araluen, who is also a co-editor of Overland said the collection takes on the political moment directly. “The Rot is … about political urgency and the social climate we’re in,” she said.

In interviews around the awards, Araluen linked the work to her experience reading new poems at Adelaide Writers’ Week in 2024.

She said she was heckled after speaking about Gaza on stage. She later described the writing as a way to sit with grief and anger about events she felt powerless to change.

The Araluen plans to donate part of the prize money which is taxed as income, to Sisters Inside. The Aboriginal led organisation supports incarcerated women and their families. She also plans to donate to groups providing relief in Gaza.

Also read: Questions grow over missing FBI interview records in Epstein files release.

Araluen previously won the 2022 Stella Prize for her debut collection Dropbear. She has been a prominent voice in contemporary poetry and criticism.

Elsewhere on the 2026 honours list, Omar Musa won the fiction prize for Fierceland while Micaela Sahhar took out the nonfiction award for Find Me at the Jaffa Gate, An encyclopaedia of a Palestinian family.

Eunice Andrada won the poetry category with KONTRA. Emilie Collyer won drama for Super and the People’s Choice Award went to Randa Abdel-Fattah’s Discipline.

INSIDE FIELD