Fire hits Australian oil refinery

Emergency crews in Victoria are battling a significant fire at the Geelong oil refinery, which supplies roughly half of the state's fuel.

Energy Minister Chris Bowen stated that while the fire appears to be an accident, it will likely impact petrol production for some time.

The facility continues to operate at reduced capacity, but experts warn that consumers could see price spikes at the pump.

This setback comes at a critical moment for Australia's energy market, which is already strained by the closure of the Strait of Hormuz.