Australia Bolsters Ties With Asian Neighbors as US Ally Focuses on War

Good morning and welcome to the end of the week. The confirmation of talks between Israel and Lebanon has provided some cheer for investors on Wall Street, with the S&P 500 notching its longest winning run since October. At home, the ASX looks set to open a tad weaker. Meanwhile, as Washington sharpens its focus on the war in Iran, Anthony Albanese has been canvassing Asian partners to shore up fuel supplies, with the Strait of Hormuz still closed and uncertainty lingering. The prime minister is in Singapore today. - Sharon Klyne, private credit reporter.

Australia is reinforcing links with its northern neighbors to secure fuel supplies and bolster defense ties. Albanese and his senior ministers have been hitting the phones and racking up air miles across Asia to corral key trading partners into maintaining shipments of diesel and gasoline, as governments around the world grapple with ongoing global supply disruptions.