US-Iran war updates: Trump issues ‘shoot and kill’ order as US Navy targets Iranian boats in Strait of Hormuz

Australian home borrowers are in for a bad year but a major bank is forecasting relief in 2027 as the Middle East oil crisis pushes unemployment to levels last seen during COVID lockdowns.

While National Australia Bank sees the Reserve Bank raised interest rates again on May 5, it sees relief coming next year with two rate cuts.

This would occur as unemployment soared from 4.3 per cent now to a six-year high of 4.8 per cent in 2027, reaching levels last seen in late 2021 when Sydney and Melbourne were in COVID lockdowns.

Over coming months, the oil crisis is set to push up inflation as crude oil prices stay above $US100 a barrel.

NAB is expecting the consumer price index to climb from an already-high 3.7 per cent to 4.3 per cent, putting it even further above the RBA’s 2-3 per cent target.

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The United States is offering a reward of up to $10 million for information on the leader of an Iran-backed Iraqi armed group it has designated a terrorist organisation.

In a statement posted to social media on Thursday, the US State Department’s Rewards For Justice said it was seeking details on Hashim Finyan Rahim al-Saraji, also known as Abu Alaa al-Walai, who leads Kataeb Sayyid al-Shuhada (KSS).

Washington alleges the group has been responsible for attacks on Iraqi civilians, US diplomatic sites and military personnel across Iraq and neighbouring Syria.

Officials said anyone with information on al-Saraji’s whereabouts “could be eligible for relocation and a reward”.

Al-Saraji is also reported to hold a position within Iraq’s Coordination Framework, the powerful Shiite political alliance that controls a parliamentary majority.

Iran-aligned armed groups have repeatedly targeted US-linked sites in Iraq, including the embassy in Baghdad, facilities at the capital’s airport and foreign-operated oil fields.

Iraq had only recently regained a level of stability after decades of conflict, before being pulled back into regional tensions following US and Israeli strikes on Iran on February 28.

Another 100 million litres of diesel has been secured for Australia using new taxpayer backed financing measures, with the Government announcing that 50 million litres will be diverted to Queensland communities including Townsville, Gladstone and Mackay.

The latest delivery represents roughly one day’s additional supply for Australia and follows similar announcements over the past week, with the Government saying the country’s reserves are now higher than when the Iran war began.

Trade Minister Don Farrell says approximately 400 million litres of additional fuel have now been secured as a direct result of the Albanese Government’s new Strategic Reserve powers.

“Through these early actions and the additional shipments that are expected to arrive in the coming weeks, we are securing supplies that are essential for our industries to keep moving in the face of the continued conflict in the Middle East,” he said in a statement.

Donald Trump has claimed the cargo aboard the seized Iran-flagged vessel MV Touska is “top secret”, after the ship was disabled by the US Navy and boarded by Marines.

Mr Trump had earlier suggested the vessel was carrying “a gift to the Iranians” from China, but offered little clarity when pressed on the details.

Asked by a reporter to explain what was on board, Mr Trump said: “That’s very top secret”.

“There was stuff in there, but it’s top secret. I’d like to … let you (know). That’s a good question.”

Andrew Hastie has warned Australia’s alliance with the United States has come at the cost of its own strength, arguing the nation has grown too dependent on the US.

Speaking at the 2026 Anzac Oration, he said the long-standing strategy of leaning on US support had weakened sovereign capability.

“This has been driven by an instinct to make our real estate more valuable to the United States, and therefore secure their support in an armed attack against our interests or territory,” he said.

“The cost or trade-off of this approach has been the loss of sovereign capability and increased dependency on the United States.”

He warned Australia must rebuild its defence and industrial base to remain credible.

Donald Trump and other US officials are increasingly framing Hezbollah as the central barrier to peace between Israel and Lebanon, arguing that tensions between the two nations could ease if the group stepped back.

Speaking at the White House talks, US envoy to Israel Mike Huckabee suggested the broader relationship between the countries isn’t the core issue, but rather the instability created by Hezbollah’s actions.

Using a blunt analogy, Mr Huckabee likened the situation to neighbours unable to get along because of one disruptive presence, while Mr Trump reinforced the message, telling reporters that “everybody seems to be united” against the group.

The comments underscore a growing US push to isolate Hezbollah diplomatically, even as the region remains on edge.

Donald Trump has announced a three-week extension to the ceasefire between Israel and Lebanon, following talks at the White House he described as going “very well”.

In a social media post, Mr Trump also revealed that Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun are expected to visit Washington “in the near future”, signalling a potential next step in negotiations.

But it was his pledge that the US would work with Lebanon to help it “protect itself” from Hezbollah that raised eyebrows.

Whether that points to deeper military involvement remains unclear, but in a region already on edge, the language suggests the situation could shift quickly.

US President Donald Trump will greet Lebanese and Israeli envoys at the White House as they meet for a second round of US-facilitated talks.

Lebanon is seeking to extend a ceasefire between Israel and Hezbollah, a day after Israeli strikes killed at least five people, including a journalist.

The ceasefire, reached after talks between the two countries’ ambassadors to Washington DC last week and set to expire on Sunday, has yielded a significant reduction in violence.

Attacks have continued in southern Lebanon, however, where Israeli troops have seized a self-declared buffer zone.

Iran-aligned Hezbollah says it has “the right to resist” occupying forces.

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Donald Trump says he has “all the time in the world” to end the conflict with Iran, brushing off suggestions he’s under pressure as tensions drag on.

In a fiery social media post, Mr Trump insisted he’s in no rush, claiming Iran’s military has already been weakened and warning that “the clock is ticking” for Tehran, not Washington.

Despite the tough rhetoric, the situation remains complicated.

Iran has pulled out of recent negotiations and moved to restrict traffic through the Strait of Hormuz, escalating global concerns. But the conflict is proving politically tricky at home, with the war unpopular among US voters and no clear timeline for a resolution.

US President Donald Trump says he has ordered the United States military to “shoot and kill” small Iranian boats that deploy mines to choke traffic through the Strait of Hormuz.

Mr Trump’s early morning post on social media came shortly after the US military seized another tanker associated with the smuggling of Iranian oil, ratcheting up a stand-off over the strait through which 20 per cent of all crude oil and natural gas traded passes.

“I have ordered the United States Navy to shoot and kill any boat, small boats though they may be ... that is putting mines in the waters of the Strait of Hormuz,” Mr Trump posted.

“There is to be no hesitation. Additionally, our mine ‘sweepers’ are clearing the Strait right now.”

“I am hereby ordering that activity to continue, but at a tripled up level!” Trump added.

He also said the military is intensifying mine clearing operations in the critical waterway.