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RBA now twice as likely to hike interest rates as US-Iran war drives fuel prices higher
Experts warn global energy market at a ‘critical juncture’ with escalating Middle East crisis expected to further drag on a slowing Australian economyFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe likelihood of a Reserve Bank interest rate hike has doubled, according to market forecasts, as the escalating Middle East crisis once again drives fuel prices higher amid dwindling global oil reserves.The total breakdown in the fragi
21 juillet 2026 à 11:00

RBA now twice as likely to hike interest rates as US-Iran war drives fuel prices higher

21 juillet 2026 à 11:00

Experts warn global energy market at a ‘critical juncture’ with escalating Middle East crisis expected to further drag on a slowing Australian economy

The likelihood of a Reserve Bank interest rate hike has doubled, according to market forecasts, as the escalating Middle East crisis once again drives fuel prices higher amid dwindling global oil reserves.

The total breakdown in the fragile ceasefire between the US and Iran has sent the international Brent crude benchmark surging by 23% over the past two weeks and back within reach of $US90 a barrel.