Melbourne News Today | 2 Min News | The Daily News Now!
Oil prices are surging amid escalating US-Iran tensions, with Brent crude climbing 23% in two weeks and nearing $90 a barrel—threatening to trigger a fresh wave of stagflation in Australia. With global stockpiles low and Iran declaring “full-scale war,” markets now see a 30% chance of an RBA rate hike next month. If the Strait of Hormuz remains blocked, oil could hit $150 a barrel, further crushing Australia’s slowing economy. The next few weeks could define whether the global energy crisis tips into full-blown economic chaos. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/17fcd1f6496073c6
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