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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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/faf6b2b3-3a4f-439a-87f7-b45700853dc3/transcript