Trump’s off-ramp in Iran won’t fix Australia’s bottom line
With only one-10th of the pre-war amount of oil making it through the Strait of Hormuz, even the best-case scenarios spell inflation pressures for longer.
US President Donald Trump can pivot and try to turn markets on a dime, but the way back for Australian business is much longer.
Even under the most optimistic scenarios – full de-escalation of war in Iran and the broader Middle East and a quick reopening in the Strait of Hormuz – it will take years to restore energy markets to what they were just four weeks ago.
