SBS News In Depth

The announcement of a ceasefire in the Middle East looks set to reduce motorists' pain at the pump, with Iran agreeing to allow ships through the Strait of Hormuz.But even if the ceasefire holds, it's likely price reductions will take time to flow through, and disruption to global markets could have a long tail. The government is again urging calm, saying fuel supplies are secure into May, as it works to shore up supply from international partners.

Australia’s sharemarket has recorded its strongest session in about a year, with the ASX200 jumping 2.6 per cent and adding around $80 billion in value as investors responded to a reported two-week ceasefire agreement between the United States and Iran. Gains were broad-based, with eight of eleven sectors higher and technology stocks leading the charge, while gold miners and airlines also rallied amid sharp moves in commodity prices. The Australian dollar climbed to around 70.7 US cents. Ricardo Gonçalves speaks with Kyle Rodda, Senior Financial Market Analyst at Capital.com, to unpack what’s driving the surge and what it could mean for markets next.

US President Donald Trump has agreed to suspend the bombing of Iran for two weeks - an announcement coming less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on its civilian infrastructure. Meanwhile, Iran's Supreme National Security Council says it also accepts the two-week ceasefire and will negotiate with the United States beginning on Friday.

Listen to Australian and world news, and follow trending topics with SBS News Podcasts. TRANSCRIPT: The ASX climbs 1.7 per cent to a four-month high as strong gains sweep across all sectors, with insights from Kai Chen of MPC Markets on what is driving the rally. At the same time, rising fuel prices are helping push electric vehicle sales to new levels, with Tony Weber from the Federal Chamber of Automotive Industries unpacking whether Australia is nearing a turning point. Plus, Kim Farrant from HESTA warns super fund members about the risks of switching investment strategies during market volatility, as more Australians move towards defensive options despite recent market rebounds.

A local South Australian community is rallying around for a woman who could be deported to Taiwan in less than a fortnight, leaving behind her husband and 3 young children.Ying-Hsi Chou is pleading with Immigration Minister Tony Burke to allow her to stay in Murray Bridge, after being told she breached her visa over a decade ago.