Fourth Australian interest rate rise more likely if Trump’s Iran conflict not resolved within a week

Economists warn continued airstrikes could push oil prices beyond US$100 a barrel, increasing chance of further RBA rate hike

Resurgent oil and fuel prices could cement a fourth interest rate rise this year if Donald Trump’s renewed conflict with Iran is not resolved within a week, economists warn.

US missile strikes on Iran and Trump’s announcement overnight of a new maritime blockade has lifted oil prices to their highest point in the month since the two countries agreed to a peace deal.