The Queensland flood emergency continues, as police hold grave fears for two missing backpackers in the Gympie region.  

The Queensland town of Chinchilla in the Western Downs, is bracing for major flooding at about lunchtime today.

The huge deluge in the Wide Bay region has already cut roads and isolated communities while hundreds of properties are feared to have been inundated in Bundaberg.

Meanwhile in the Northern Territory, dramatic stories of survival are emerging from flood-hit communities there.

Some residents south of Darwin, say they were forced to wade through crocodile-inhabited floodwaters to reach safety.

Several emergency warnings remain in place.

The International Energy Agency has announced the largest release of oil reserves in its history, in an effort to curb soaring energy prices as the war in the Middle East drags on.

It comes after three commercial ships were attacked near the Strait of Hormuz, which is a crucial shipping passage for oil.

In Australia, analysts say fuel prices could continue to rise, although the pace of increases may begin to slow.

Motorists are being urged not to panic buy petrol and the countries leaders insist fuel is still coming to Australia.

It's also sparked discussion about encouraging more people to drive electric cars here to reduce reliance on overseas oil.

Former ASIO boss Dennis Richardson has resigned from his role on the Royal Commission into Antisemitism and Social Cohesion.

Dennis Richardson was hired to deliver an interim report detailing the actions of security and intelligence agencies in relation to the Bondi terror attack.

The reason for his resignation isn't yet known and senior members of Mr Richardson's team will remain working for the commission until the interim report, due at the end of April, is complete. 

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