Nicola Willis: Finance Minister on the OCR rise, petrol prices rising due to the US-Iran strikes resuming

The Finance Minister's again reiterating the volatility of oil prices as fighting resumes between the US and Iran.  US President Donald Trump's declared the ceasefire is over as both sides accuse the other of breaching the terms of the ceasefire agreement.   American forces have hit dozens of Iranian targets, while Iran's fired drones at US bases in response.   Finance Minister Nicola Willis told Mike Hosking she'd just been celebrating falling petrol prices.  She says in the past 24 hours, oil prices have jumped 5%.  LISTEN ABOVE See omnystudio.com/listener for privacy information.