Diesel under pressure | How will the closure of Hormuz impact fuel supply and inflation in New Zealand and Australia?

RaboResearch Global Energy Strategist Joe DeLaura unpacks diesel supply chain disruptions stemming from tensions at the Strait of Hormuz. While global crude prices have been highly volatile, diesel prices in Australia and New Zealand remain elevated to attract the needed import volumes. RaboResearch Economic Strategist Ben Picton explains the implications for inflation, consumers, interest rates, and currencies.