Middle East conflict threatens fuel prices and rate rises

Rising tensions between Iran and Israel are expected to drive up fuel prices in Australia, with economists warning of potential flow-on effects to everyday consumer goods and possible interest rate increases by the Reserve Bank of Australia. The Australian stock market faces a challenging reopening following a $2 trillion wipeout on Wall Street and an 8% crash in South Korea's major index. The market turmoil stems from disappointing tech sector earnings, strong US job numbers reducing prospects for rate cuts, and ongoing Middle East conflicts.See omnystudio.com/listener for privacy information.