Outro

As oil prices soared beyond a hundred dollars a barrel yesterday, as a result of the ongoing conflict in the middle east, G7 finance ministers held a meeting in Brussels this morning.

The French Finance Minister, Roland Lescure, says no decision has yet been made on whether to release G7 strategic oil stocks, adding that 'we're not there yet'.

Meanwhile, the surging energy prices have pushed unleaded petrol to above two-dollars a litre across parts of Australia. 

• GUEST: Chris Bowen, Minister for Energy and Climate Change