Over in the UK, household  energy prices will rise by 13 percent a year in July, as soaring wholesale costs caused by the impact of the Iran war hit bills for the first time.

Energy costs have jumped as a result of Iran blocking the crucial Strait of Hormuz shipping route - where a fifth of the world's oil and gas is carried.

UK correspondent Gavin Grey says even if the Strait was unblocked tomorrow, this conflict would still leave a significant economic impact. 

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Over in the UK, household &nbsp;energy prices will rise by 13 percent a year in July, as soaring wholesale costs caused by the impact of the Iran war hit bills for the first time.
Energy costs have jumped as a result of Iran blocking the crucial Strait of Hormuz shipping route - where a fifth of the world's oil and gas is carried.
UK correspondent Gavin Grey says even if the Strait was unblocked tomorrow, this conflict would still leave a significant economic impact.&nbsp;
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Gavin Grey: UK correspondent on energy bills going up as a result of the Iran war

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f39291f4-fec0-4695-8e81-b4570085490a/transcript