At 9.50pm AEDT yesterday, there was a sudden spike in trading on the oil and S&P 500 futures market.

6.50am New York time is an unusual time for a rush on trades on West Texas Intermediate May futures.

But it showed that all of a sudden, a substantial sum of money was bet on oil prices dropping and the stock market rising.

READ MORE: Single Trump post sends oil prices tumbling

In the space of a minute, more than $800 million in trades was made on oil futures.

Then a few minutes later, US President Donald Trump made a Truth Social post.

"I am pleased to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," Trump wrote.

"Based on the tenor and tone of these in depth, detailed, and constructive conversations, witch (sic) will continue throughout the week, I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period, subject to the success of the ongoing meetings and discussions."

The S&P 500 futures market surged and crude oil prices dropped through the floor.

And whoever made those trades made an incredible amount of money.

A White House spokesperson brushed off the suspicious activity.

READ MORE: Trump considering ground invasion of critical Iranian island: reports

"The White House does not tolerate any administration official illegally profiteering off of insider knowledge, and any implication that officials are engaged in such activity without evidence is baseless and irresponsible reporting," Kush Desai told FT.

Hours later, top Iranian politician Mohammad-Bagher Ghalibaf denied the president's claim.

"No negotiations have been held with the US, and fake news is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped," he said.

"Iranian people demand complete and remorseful punishment of the aggressors.

"All Iranian officials stand firmly behind their supreme leader and people until this goal is achieved."

READ MORE: Trump compares Iran attack to Pearl Harbor in front of Japan's PM

Today's future market trades are not the first time eyebrows have been raised at suspicious bets before a Trump decision.

Betting app Kalshi has refused to pay out $77 million in winnings to punters who bet Ayatollah Ali Khamenei would be out of office by March 1.

Khamenei was killed by a US and Israeli bombing strike hours before the deadline was reached.

Meanwhile on Polymarket, 150 accounts bet more than a million dollars that the US would strike Iran the next day.

And in January, a Polymarket user made about $570,000 betting that Venezuelan President Nicolas Maduro would be out of office before the end of the month.

They had doubled down on their bet hours before the US seized the leader in a military strike.

READ MORE: The comments from Trump's right-hand man that should annoy every Aussie

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OnlyFans owner Leonid Radvinsky has died after a battle with cancer, the company has confirmed.

The Ukrainian-born American businessman and entrepreneur was 43 years old and had an estimated net worth of $US4.7 billion at the time of his death, according to Forbes.

His death was announced by OnlyFans, the British company he owned and turned into an online pornography powerhouse.

LIVE UPDATES: Trump postpones strikes on Iranian energy sites

"We are deeply saddened to announce the death of Leo Radvinsky," a company spokesperson said.

"Leo passed away peacefully after a long battle with cancer."

The entrepreneur founded an adult streaming website MyFreeCams in 2004, and developed several websites that helped amass his fortune.

READ MORE: Brutal truth in Sydney mum's video as Aussies sweat through cost-of-living crisis

In 2018, he acquired a 75 per cent stake in Fenix International, the parent company of OnlyFans.

Under his watch, the company became focused on offering a platform for online pornography creators, with OnlyFans taking a 20 per cent cut of any profits made.

Since the site was founded in 2016, OnlyFans has paid out more than $36 billion to creators. 

Last year, it generated $10.27 billion from users, who pay subscriptions to the content creators, as well as offer tips and payment for special requests.

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A Sydney mum has pulled the curtain back on the brutal reality many Australian families face as the cost-of-living crisis continues to worsen.

The mum of three, who goes by K and runs the Instagram account @mylifebackinoz, confessed that despite earning two good incomes she and her partner "feel broke".

"Here's what middle class actually looks like in 2026," she wrote on a reel posted over the weekend.

LIVE UPDATES: Iran's military says Strait of Hormuz will be 'completely closed' if US bombs power plants

"Mortgage rates went up 0.25 per cent, groceries cost more than our first apartment rent, petrol prices [are] more than $2.50 a litre, add on childcare and kids' activities.

"We're not struggling, but we're not comfortable either."

K recently moved back to Australia after 14 years spent living abroad in the UK and said she has struggled with 'reverse culture shock', especially around the cost of living.

But K's family isn't the only one struggling.

Last week the Reserve Bank's second consecutive rate hike took rates to an eight-month high of 4.1 per cent.

That has put extra pressure on mortgage holders already struggling to make ends meet as essentials like groceries and fuel surge in price.

The cost of food and non-alcoholic beverages spiked by 3.1 per cent in the 12 months to January 2026, per the Australian Bureau of Statistics (ABS).

That's on top of years of rising grocery prices that have hit Aussies in the hip pocket.

READ MORE: Millions of Aussies will get an extra hour of sleep soon as daylight saving ends

An inquiry into price gouging and unfair pricing practices released in 2024 found the cost of cheese alone increased by 27.3 per cent between March 2021 and September 2023.

The cost of bread rose by 24.1 per cent, milk got 22.7 per cent more expensive, and eggs also saw a 19.7 per cent price hike.

According to the inquiry, the total price of a staple shopping basket rose by more than 15 per cent in that time period.

That's on top of rising housing costs, which have left many Aussies struggling to make rent.

The national median rent leapt from $420 per week in 2020 to $650 per week in 2025, marking the lowest level of rental affordability on record.

Meanwhile, the national median house price has hit $1.28 million, making homeownership an impossible dream for many families.

READ MORE: ABC staff to strike for first time in 20 years after rejecting national broadcaster's pay deal

Aussies also have the fuel crisis to contend with at the moment, which has seen the cost of petrol soar to more than $2.50 a litre in some locations.

Diesel hit a record three dollars a litre in parts of the country over the weekend.

Add the cost of raising a child – upwards of $200,000, according to some research – on top and it's no wonder some families feel like they're falling behind.

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A man accused of raping and murdering a brothel owner has argued the prosecution case against him was "guesswork" as he sought to have the charges thrown out.

Michael James Chalmers, 36, faced Melbourne Magistrates Court on Monday, charged over the death of Asian migrant sex worker Yuko.

The 62-year-old woman was found dead at the Footscray brothel she ran in Melbourne's west in late November 2024.

LIVE UPDATES: Iran's military says Strait of Hormuz will be 'completely closed' if US bombs power plants

CCTV footage allegedly showed Chalmers speaking with Yuko for about two minutes before he grabbed her in a headlock and pinned her down on the bed, prosecutor Jordan Johnston said.

"The interaction commences with violence," Mr Johnston told the court on Monday morning.

Chalmers was captured on the footage leaving the brothel room about 30 minutes later while Yuko was either unconscious or already dead, the prosecutor said.

Two pathologists previously told the court Yuko likely died from strangulation or smothering.

READ MORE: Millions of Aussies will get an extra hour of sleep soon as daylight saving ends

The prosecutor said the injuries Yuko sustained were consistent with rape and the CCTV showed a "quite shocking" act of violence.

But defence barrister Barnaby Johnston argued there were was no DNA evidence linking Chalmers to those injuries, and Yuko had seen other clients in the lead-up to her death.

"It is utter guesswork how those injuries occurred," the defence barrister said.

He urged magistrate Vincenzo Caltabiano to discharge Chalmers of rape and the state offence of murder, which alleges the 36-year-old unintentionally caused the death during the rape.

Chalmers is also facing a separate charge of common law murder.

READ MORE: ABC staff to strike for first time in 20 years after rejecting national broadcaster's pay deal

The prosecutor accepted it was an atypical and circumstantial case but argued it should be left to a jury to decide.

Mr Caltabiano will have to consider whether there is sufficient evidence to commit Chalmers to stand trial in the Supreme Court on all or some of the charges.

The magistrate adjourned his decision to March 31.

Help is available via the National Sexual Assault, Domestic Family Violence Counselling Service on 1800RESPECT (1800 737 732).

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"Do you know who I am?"

The well-worn catchphrase of famous people caught in embarrassing situations was wielded to little effect before dual-code rugby great Wendell Sailor was arrested during a drunken night out. 

The former Wallabies player became agitated when talking to another man at Pappy's Bar in Sydney's city centre after 8.30pm on November 6, 2024, according to agreed facts of his court case. 

READ MORE: Diesel forecast to reach $4 a litre as motorists urged to change habits

The bar manager threatened to call police after asking the 51-year-old to leave the bar at least three times because of his level of intoxication. 

"F—ing call the cops and see what happens," Sailor replied, according to court documents. 

"Do you know who I am? You're f—ing done."

Police spoke to him outside the bar before he spotted the man whom he accused of trying to fight him and gave chase, the agreed facts state.

Reinforcements were called to help arrest the former NRL and rugby union international, who maintained his capture was racially motivated.

He was subsequently granted bail on conditions that included a prohibition on being intoxicated in public. 

But the premiership-winning NRL star ignored the restriction when he went to a sports bar in Wollongong and drank a large volume of alcohol on January 5, 2025, according to the agreed facts. 

READ MORE: ABC staff to strike for first time in 20 years over pay deal

Police were called after he became aggressive with a taxi driver and found Sailor stumbling and swaying in the middle of the road.

He smelled strongly of alcohol and was slurring his words as he abused officers, the agreed facts state. 

Officers called for backup as they struggled to arrest an increasingly aggressive former NRL star, who tensed his arms to prevent handcuffs being placed on him and braced himself against the car. 

He resisted nine officers before eventually being taken into custody, where the agreed facts say he continued to be aggressive and hostile. 

The 51-year-old appeared in Sydney's Downing Centre Local Court on Monday after pleading guilty to failing to leave a premises after being excluded, intimidation, and resisting police. 

His lawyer asked the court to dismiss the charges on mental health grounds, citing information arising out of a psychiatric report. 

If the application is not successful when it's heard on Friday, Sailor will be sentenced.

READ MORE: Kids in this state are worse off than rest of the country

The former rugby great is in the process of a difficult separation from his wife of nearly three decades, a court was previously told.

He represented Australia in rugby league and rugby union, distinguishing himself as the top try-scorer when the Kangaroos won the Rugby League World Cup in 2000. 

Sailor also proved a prolific scorer during a four-year rugby union stint, crossing 13 times in 37 games for the Wallabies and earning a start in the 2003 World Cup final.

He finished his 222-game NRL career in 2009 after nine seasons with the Brisbane Broncos and two seasons with St George Illawarra.

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Emergency services were called to the scene about 8.15pm.

A busy New York airport has closed after a plane collided with a Port Authority vehicle on the runway.

The New York City Fire Department said firefighters responded to reports of a plane crashing into a vehicle on the runway of LaGuardia Airport in Queens at 11.38pm on Sunday (2.38pm Monday AEDT).

The airport said a Jazz Aviation flight operating on behalf of Air Canada struck a Port Authority aircraft rescue and firefighting vehicle that was responding to a separate incident.

READ MORE: The big question all of Australia is asking

READ MORE: RBA boss buys luxury holiday house on rate hike day

The collision on runway four, which flight-tracking sites said featured Air Canada flight AC8646, sparked emergency protocols.

"The Port Authority Police Department is on scene along with the agency's chairman and executive director," LaGuardia Airport said in a statement.

"The airport is currently closed to facilitate the response and allow for a thorough investigation. This is a developing situation based on preliminary information.

"The Port Authority Police Department is working closely with our airline partners as well as federal authorities and will provide additional updates as more details become available."

The New York Police Department said all streets and highway exists into the airport were closed until further notice due to an "emergency incident".

A notice on the Federal Aviation Administration's National Airspace System Status showed La Guardia as closed 12 minutes after the crash.

Eighteen flights had been diverted from La Guardia within a couple of hours of the collision, Flightradar24 reported.

Multiple videos taken by bystanders and posted on social media showed the jet with severe damage to the front of the aircraft.

– Reported with Associated Press

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Motorists are being encouraged to use a cheaper alternative at the bowser amid concern about fuel prices skyrocketing.

National Roads and Motorists' Association (NRMA) spokesperson Peter Khoury has advised drivers who can to opt for E10 over unleaded at the bowser as it is more locally sourced.

"If you can take E10 in your vehicle, we encourage you to do so," he said.

AS IT HAPPENED: Fighting erupts on second front as Trump advisor lets plan slip

"Ten per cent of every litre of E10 is ethanol that's produced here in Australia, and not oil or petrol imported from overseas, and we have unfortunately seen yet again, just how volatile the prices of oil and fuel are.

"All it takes is for the Middle East to sneeze and the rest of the world catches a cold."

As the cost of diesel hovers around $3 a litre, there's concern in the next few weeks it could climb closer to $4 a litre.

"Its not only possible its probable," Khoury said.

"I don't want to think about what it would take to get to $4 a litre."

Out of 25000 service stations across NSW, just 37 are out of fuel today.

Energy Minister Chris Bowen also suggested working from home where possible, rather than driving to work.

"I think that's a sensible thing to do in any environment, really," he said on ABC Insiders yesterday.

"Work from home has become an important part of Australian working life."

His comments came after a report from the International Energy Agency (IEA) last week that suggested countries around the world should look at implementing and supporting work-from-home measures more widely.

However, Bowen conceded this would not be an appropriate option for everyone, and highlighted the report was not tailor-made for Australia.

"There are other people for whom it's not an option, and I think people would already be looking at their options to minimise their fuel use at the moment, Bowen said.

"For other people, that's a lot harder.

"I don't think a one-size-fits-all approach is necessary and that IEA report is a smorgasbord of options for all countries around the world to look at in terms of their own personal circumstances."

Bowen's comments have been criticised by deputy opposition leader Jane Hume, who claims he is deflecting from failing to secure Australia's fuel supply.

READ MORE: Almost half of all Australians think an attack on the country is 'probable'

This is despite Bowen saying only six of Australia's 81 oil shipments have been cancelled since the start of the conflict, and that the country has over a month's worth of fuel supply in both petrol and diesel.

"Chris Bowen is saying, 'it's OK, everyone can work from home, [but] it doesn't work that way," Hume said on Today.

"That isn't going to be enough to solve the supply chain crisis."

Bowen's comments were also met with scepticism by NSW Premier Chris Minns, who claimed the impact on fuel prices and supply would be "negligible", at least in his state.

"When it comes to the NSW public service, our advice is that it wouldn't make much of a difference in terms of demand, mainly because 85 per cent of our public servants work at the coalface," he said.

"They're not working from home. It's not possible. Most of our employees are nurses, paramedics, police officers and firefighters.

"We just can't issue that order."

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Consumers are advised to return the products to the supermarket for a full refund.

A resident said they heard a ‘huge boom’.