Oil has reached $117 a barrel for Brent crude, some of the highest prices seen this year lowering the chance of any relief before Christmas.

The price hikes come as the United States signals it may ramp up military activity in the Middle East after the midterms.

The lack of fallback in prices may keep the pressure on the reserve bank as the inflation rate looks more likely to stay in the 4% range.

LISTEN ABOVE

Oil has reached $117 a barrel for Brent crude, some of the highest prices seen this year lowering the chance of any relief before Christmas.
The price hikes come as the United States signals it may ramp up military activity in the Middle East after the midterms.
The lack of fallback in prices may keep the pressure on the reserve bank as the inflation rate looks more likely to stay in the 4% range.
LISTEN ABOVE

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Kelly Eckhold: Westpac Chief Economist on Oil Prices and Australian Reserve Bank

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0d9141bf-b625-411d-baa0-b4ee0159dafa/transcript