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Talk of $US40-a-barrel oil has picked up pace as crude prices fell again, to their lowest point since April 2009 (File Photo: Stock Xchng)

'It's the location': Strait of Hormuz restrictions bring uncertainty to oil prices

Author: Newstalk ZB,
Publish Date: Mon, 2 Mar 2026, 8:16am

The US/Israeli missile strikes against Iran have caused uncertainty around oil prices.

20% of the world's crude oil travels through the Strait of Hormuz, which Iran has threatened to close and it has already heavily restricted access to the region.

AA Principal Policy Adviser Terry Collins told Mike Hosking that prices hinge on the ability to move oil through the Strait, but that won't be an easy task.

"it's easy to target vessels within it, and it's what the response will be from the Americans around protecting those vehicles"

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