Iran retaliates for US strikes with attacks across the Gulf

Iran fired missiles and drones at the Gulf on early Wednesday. This followed US strikes that killed at least five people at a wedding. It ended a month of calm between the US and Iran.

Why it mattersThe cycle of strikes risks widening regional conflict and threatens global oil supplies. It also creates political problems for US President Trump ahead of November's midterm elections.

AustraliaOil prices are likely to spike, driving up fuel and transport costs for Australian consumers and businesses. The Middle East conflict has already disrupted global supply chains Australia relies on.

Corroborated bythenightly.com.au

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