The Iran conflict threatens global oil supplies, with 27% of world oil production coming from the Middle East and 20% distributed through the Strait of Hormuz. Economists predict crude oil prices could reach US$100 per barrel, up 40% from last week, potentially adding 40 cents per litre to Australian petrol prices. The flow-on effects extend beyond fuel costs to transport, manufacturing, and grocery prices, adding inflationary pressure to the economy.

From Channel 7's popular breakfast show with Natali Barr and Matt Shirvington, Sunrise brings you the show's latest news, entertainment and human-interest stories.

From Channel 7's popular breakfast show with Natali Barr and Matt Shirvington, Sunrise brings you the show's latest news, entertainment and human-interest stories.

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Sunrise

From Channel 7's popular breakfast show with Natali Barr and Matt Shirvington, Sunrise brings you the show's latest news, entertainment and human-interest stories.

Iran conflict threatens oil price shock

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