LIVE UPDATES: Huge explosion from attack on oil plant; Rogan slams Trump decision to wage war; Historic move to limit petrol price hikes

That's all for today.

We will end today's rolling coverage of the conflict in the Middle East here, thank you for reading.

The day has seen a fresh wave of Iranian strikes targeting the Gulf region and Israel, while the US-led campaign against Iran shows no sign of slowing down.

Meanwhile, Australian expats in the Middle East have been urged to book a flight home, and motorists continue to feel the impact of surging oil prices at the bowser.

For more coverage on the war, visit Nine.com.au.

The federal government has moved to relax its fuel standards for 60 days to inject another 100 million litres per month into the economy.

This will amount to about two days' worth of fuel.

Energy Minister Chris Bowen said the temporary change will redirect supply to regional communities that need it the most.

"While Australian fuel consumption has not changed, this will help relieve pressure on distribution chains disrupted by elevated demand," he said.

This means higher-sulphur fuel will be allowed to flow through the system and be sold in Australia, rather than only being sold for export.

The price of Brent crude oil has gone past $US100 ($139) per barrel for the second time this week.

This is despite dozens of countries agreeing to release a record amount of oil from emergency reserves to ease soaring prices and buffer potential shortages.

An Iranian official earlier warned that this price could double.

"Get ready for oil to be $200 a barrel, because the oil price depends on regional security, which you have destabilised," said spokesperson for the Iranian military command Ebrahim Zolfaqar.

Prime Minister Anthony Albanese has fielded more questions about Australia's refined oil reserves during question time.

He repeated the same point the federal government has been making since the war began: There is no shortage.

"The big message for every Australian is don't panic, the supplies are there," Albanese told Opposition Leader Angus Taylor.

"What the minister has said is this: on the minimum stock holding obligation, petrol: 36 days. jet fuel: 29 days, diesel: 32 days.

"There is a war in the Middle East, and it is having an impact."

The Israeli Defence Forces (IDF) said it deployed air defence systems to intercept missiles launched from Iran.

The IDF issued a warning at 1pm (AEDT) urging residents to shelter in place.

The warning was lifted less than 30 minutes later.

Iran launched a fresh round of drones and missiles in the Gulf region today.

Here is a breakdown of the attacks so far:

Iraq

Underwater drones targeted two foreign oil tankers in Iraq's territorial waters.

One person was killed and 38 others were rescued in the attack, for which Iran claimed responsibility.

Social media footage shows huge flames and smoke billowing from the damaged tankers.

Iraq's military group Saraya Awliya al-Dam later claimed seven attacks targeted US military bases across the country.

United Arab Emirates

Earlier today, a drone fell on a building in the Dubai Creek Harbour area, causing a small fire.

No injuries were reported, Dubai's media office said.

Saudi Arabia

The Ministry of Defence in Saudi Arabia said it intercepted and destroyed over 20 drones launched from Iran in the country's east.

The drones targeted parts of Saudi Arabia's oil fields.

Bahrain

Bahraini authorities said it responded to an Iranian attack on fuel tanks in the Muharraq Governorate, in the country's north-east.

Residents in the area were urged to remain indoors after the incident caused a small fire.

Kuwait

Authorities in Kuwait said it had responded to "hostile missile and drone threats" from Iran today.

Wong also urged Australian expats living in the Middle East to return home.

The foreign minister acknowledged that leaving is a "big decision" but said those living in the region should book a flight back to Australia.

"Our advice is that you should, if you can secure a seat, you should leave," she said.

"Please don't wait until it is too late.

"We don't want to see a situation where commercial flights – which are operating but obviously on a limited schedule – where they dry up."

Foreign Affairs Minister Penny Wong has confirmed about 3600 Australians have returned from the Middle East.

She was speaking today ahead of the scheduled arrival in Melbourne of a flight from Doha.

"The advice to me from airlines and airports is the majority of those Australians who are in transit and caught in transit have returned home."

Wong also advised Australians still in the Middle East the situation remains unstable.

"Our view, our advice is, if you can secure a seat on a commercial flight, you should take it. Please do not wait until it is too late."

Two foreign tankers laden with Iraqi oil have come under unidentified attack inside territorial waters, leaving both ships ablaze.

Iraq's director general of the General Company for Ports Farhan al-Fartousi told Reuters that emergency services evacuated the 25 crew members from the two vessels.

Social media footage shows huge flames and smoke billowing from the damaged tankers.

Earlier, officials from the G7 group – Canada, France, Germany, Italy, Japan, UK, US, plus the EU - held a video conference to discuss deploying warship escorts to merchant vessels.

The group is exploring "the possibility of ship escorts when security conditions allow" as the war with Iran disrupts supply chains and endangers shipping.

The Commonwealth Bank of Australia has just provided an investor update on the implications of rising oil prices, with a warning to energy markets.

It says Brent oil prices could surge towards US$120 to US$150 per barrel to force "demand destruction" (ie where high prices reduce demand).

CBA economists believe the war will last for months rather than weeks, and global energy markets have yet to realise this.

"Our view that energy markets are not fully pricing in the disruption posed by the Middle East conflict ultimately comes down to the expected length of the current disruption."

The CBA also says if the war is not brought to an end "oil and refined product prices are at risk of rising to levels not seen in history".