Australia offers $693 million in fuel relief loans

The government of Australia is preparing to launch a A$1 billion ($693 million) support package aimed at shielding essential industries from the escalating costs of energy. Prime Minister Anthony Albanese is expected to announce the initiative on Thursday, offering interest-free loans to transport operators and fertilizer producers as they navigate a volatile global market. This move comes as the conflict in Iran continues to disrupt supply chains, placing significant upward pressure on Brent Crude Oil and refined fuel products.