No relief for motorists as oil jumps above $US100 per barrel | Finance Report | ABC NEWS

Reports of at least six ships being attacked around the Persian Gulf led to a renewed spike in oil prices, with Brent crude surging back above $US100 per barrel. Worries about more petrol prices becoming more expensive, higher inflation and an economic slowdown led to heavy falls on the Australian share market.
The Australian dollar briefly surged to its highest level since mid-2022 on growing confidence the Reserve Bank will lift interest rates next week, as finance presenter David Chau explains. 
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