Investors are betting that President Donald Trump will quickly end a conflict with Iran that has spiked global oil prices by 17% and disrupted markets, though economists warn markets may be underestimating the risk of prolonged conflict. The closure of the Strait of Hormuz, through which one-fifth of world oil and gas supplies travel, poses stagflationary risks that could push Australian inflation above 5% if oil reaches $100 per barrel.
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Investors are betting that President Donald Trump will quickly end a conflict with Iran that has spiked global oil prices by 17% and disrupted markets, though economists warn markets may be underestimating the risk of prolonged conflict. The closure of the Strait of Hormuz, through which one-fifth of world oil and gas supplies travel, poses stagflationary risks that could push Australian inflation above 5% if oil reaches $100 per barrel.