Australia’s fuel stocks are “secure”, Home Affairs Minister Tony Burke has said as a flare up between the US and Iran has again spiked global oil prices.Iran announced at the weekend that it would close the Strait of Hormuz in response to US strikes that “rendered futile” months of peace talks.The US carried out two rounds of strikes on Iran overnight (AEST), including a major air assault targeting dozens of military sites.“At 5pm. ET today, U.S. Central Command forces began launching more strikes against Iran to continue degrading their ability to attack civilian mariners and commercial ships freely transiting the Strait of Hormuz,” the US military said on Monday morning.“The Commander in Chief has directed the strikes to hold Iranian forces accountable.”Iran has in turn fired missiles at US bases in the region.Mr Burke said Australia “wants to see a ceasefire that holds”.“What’s important to know for the impact on the Australian economy is that we are still in a situation where we have more fuel in Australia than we had right at the start of the conflict,” he told ABC’s News Breakfast.“And I think if you rewind back to the start of the conflict, where … our opponents were trying to get people to panic about it, the way we’ve just calmly been making sure that for the different forms of fuel, for petrol, for diesel, for aviation gas – just making sure that Australian stocks are secure puts us in good stead.“But obviously, the eyes of the world are there, and we’re all wanting to see a ceasefire that holds.”