Australia news live: new Labor president Kate Ellis warns party against ‘turning hurt into anger’; Hanson accuses media of twisting her words on DV

The brief

Escalating conflict in the Middle East has reignited concerns about oil prices. Brent crude prices have risen to over $US96 a barrel following Houthi rebel attacks on two tankers in the Red Sea. Experts warn that prices may continue to climb if the conflict restricts traffic through the Strait of Hormuz. However, they predict that Brent crude will likely trade between $US70 and $US100 a barrel in the second half of the year. The conflict has already led to a third increase in oil prices this month, with low global inventories exacerbating the situation.

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