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One US crew member has been rescued after an American fighter jet was downed over Iran, a US official has confirmed. Follow live.

Those in trucking industry are not getting hopes up that fuel will arrive in Australia, after Energy Minister announces 53 ships are on their way.

Westpac's chief executive, Anthony Miller, says Australians need to acknowledge there is a growing risk the country could slip into recession, amid the Iran war-driven fuel crisis and rising interest rates.