A Perfect Storm Brewing in the Oil Market The warning signs for the Australian economy are flashing bright red as global oil prices continue to soar.
The Treasury's recent advice to Treasurer Jim Chalmers paints a dire picture: an inflation spike and slower growth in the second half of the year, courtesy of the ongoing turmoil in the Middle East.
At first glance, it may seem like business as usual – a war here, an attack there, oil prices go up. But scratch beneath the surface, and you'll find a perfect storm brewing.