Aussie shares have tumbled and oil is surging, after US President Donald Trump threatened to send Iran "back to the Stone Ages" while declaring his military campaign nearly complete.
Thirty-five countries will meet to discuss ways of reopening the Strait of Hormuz, weeks after the key shipping route was closed by the US-Israeli war on Iran.
ANALYSIS: There's no doubt that petrol supplies are causing angst as the war in the Middle East has closed the Strait of Hormuz, but this scenario has played out previously; in high prices, at least.
Imdex has acquired the remaining 60 per cent stake in Canadian drilling data firm Krux Analytics in a $23 million deal, marking its third acquisition in as many months.
Duratec will acquire NSW-based Pacific Welding Australia for up to $12 million in a move which gives it access to Orica's Kooragang Island ammonia and nitric acid facility.
Satterley Property Group has sought to re-open a discussion over a Perth Hills project, which can extend a dispute that has already been ongoing for years.
Northern Star Resources has embarked on a $500 million buy-back of its shares, while claiming the market has not fully priced in the quality and potential of its assets.
The boss of the state's housing institute says builders should remain alert but not alarmed, as the Middle East war starts to impact construction costs.
State and territory leaders have agreed to forgo $400 million in GST returns and allow the federal government to put the funds towards a further fuel excise cut.
Wall Street ended higher on Wednesday, with strong gains in Alphabet and other heavyweights, after US President Donald Trump suggested an end to the Middle East conflict could be close.
The Prime Minister has addressed the country, calling for calm in the face of uncertainty surrounding the war in Iran, while warning the situation could worsen.
Australia's share market has bounced sharply on optimism the US will wind down its military campaign against Iran, but doubts remain and aftershocks from the conflict are likely to linger.
The scale up of new technology to improve resources sector productivity needs more industry and government support, according to a mining services veteran.
WA's fuel crisis is deepening with the state government announcing it will enact the Fuel, Energy and Power Resources Act to force fuel distribution companies to provide information.
Sea Harvest has accused Fisheries Minister Jackie Jarvis of giving in to political pressure over the demersal fish ban, during a trial held at the state's highest court.
