Attacks on large gas plants in Qatar by Iran is a major concern, the prime minister says, as he expects the US-Israel led war to come to an end.
Iran struck Qatar's Ras Laffan gas facility, the world's largest LNG producer, in retaliation for strikes by Israel on the South Pars natural gas field, while the Middle East conflict continues.
The attacks have increased concerns over further spikes in oil prices, which have skyrocketed as a result of the war.
Prime Minister Anthony Albanese said the attack on the gas plant was worrying.
"Quite clearly, this is a major concern, and the attack on the Qatari LNG facility, even though that was turned off at the time, what that will impact is future supply," he told reporters in Hobart on Thursday.
"We'll continue to monitor all of these issues, but that's why we call for a de-escalation.
"Qatar is not a participant in this conflict, but Iran has chosen to attack, unprovoked, 12 countries in the region, indeed countries that have not been participants."
Fuel prices have soared globally as a result of one of the world's major oil corridors - the Strait of Hormuz - being closed by Iran in response to the conflict.
While there has been no timeline on when the war would come to an end, the prime minister said the goal of Tehran's regime being denied its nuclear weapons potential had been achieved.
"I can see it (the war) ending, coming to an end, and us making sure that we get the world back on its normal axis," he told Triple M radio.
"(There will be) a bit of a tail, though, like you don't end the war, and then everything is all hunky dory."
Mr Albanese's comments came after Donald Trump blasted a number of nations, including Australia, in a blistering social media post as the international community refused to join the war.
The US president requested a naval coalition to help reopen the Strait of Hormuz, the corridor for about one-fifth of the world's oil.
Australia has deployed a Royal Australian Air Force E-7A Wedgetail plane to the Middle East to help monitor the region.
Overnight, Australian representatives co-sponsored a declaration at an emergency session of the International maritime Council which condemned Iranian attacks in the strait.
The declaration, which was drafted by the UAE, called for Iran to cease actions which close or obstruct the crucial shipping lane.