How will the Middle East war affect Australia's economy? | ABC NEWS

Concerns are growing worldwide about how the Iranian conflict could affect the global economy, as Qatar's energy minister warned that the Gulf could stop oil production within days if ships cannot proceed through the Strait of Hormuz. Justin Wolfers, professor of economics at the University of Michigan, says Australians are particularly at risk as we import more oil than we export. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-03-07/iran-war-pushes-oil-price-above-90-dollars/106427656 ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook: http://facebook.com/abcnews.au Follow ABC NEWS on Instagram: http://instagram.com/abcnews_au Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia