Australia assures fuel stocks secure until May

Jakarta (ANTARA) - The Australian government has assured that national fuel supplies are secure until May amid rising tensions in the Middle East and global oil market volatility. Australian Minister for Climate Change and Energy Chris Bowen said on Monday that current fuel supplies are confirmed to be sufficient throughout April and into May. “The situation now is that we are secure through April into May. All orders have been locked in and contracted. Once contracted, that fuel becomes the property of the Australian companies buying it, so it is legally secured. This is an encouraging development,” Bowen told the ABC broadcaster. Previously, Australian authorities had stated that their fuel reserves were only sufficient until the end of April, and efforts are now underway to ensure supplies for the following month. Meanwhile, the number of fuel stations nationwide running out of diesel has been reported to be decreasing, with 274 locations currently recorded. On 28 February, the United States and Israel launched attacks on several targets in Iran, including Tehran, causing damage and civilian casualties. Iran subsequently retaliated by attacking Israeli territory and US military facilities in the Middle East. The escalation of conflict in the region has led to a de facto blockade of the Strait of Hormuz, the main shipping route for oil and liquefied natural gas from Gulf countries to global markets. This situation has also affected oil exports and production in Gulf countries and driven up global energy prices.