Middle East conflict could see petrol prices soar
The Middle East conflict could bring significant pain at the New Zealand petrol pump. The price of brent crude has already risen about 16 percent in the past week. The Strait of Hormuz, a narrow strip of water between Oman and Iran is a vital shipping lane for about 20 percent of the world's oil. Iran is threatening to attack any ships trying to pass through the strait. Waitomo Group chief executive Simon Parham spoke to Lisa Owen.
Checkpoint · RNZ
March 4, 20266m 8s
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Show Notes
The Middle East conflict could bring significant pain at the New Zealand petrol pump. The price of brent crude has already risen about 16 percent in the past week. The Strait of Hormuz, a narrow strip of water between Oman and Iran is a vital shipping lane for about 20 percent of the world's oil. Iran is threatening to attack any ships trying to pass through the strait. Waitomo Group chief executive Simon Parham spoke to Lisa Owen.
Topics
conflictmoneypetrol price