Oil price shock could ‘trigger market meltdown’

The Reserve Bank of Australia will look through any temporary spike in inflation caused by higher oil prices, as economists warn that an escalation of the war between Israel and Iran could trigger a financial market meltdown.

Oil prices jumped 13 per cent over the past week to $US73 per barrel as markets braced for potential supply disruptions caused by conflict in the Middle East.

Source: https://www.afr.com/policy/economy/oil-price-shock-could-trigger-market-meltdown-20250616-p5m7oe