Khamenei's Death Sparks Market Turmoil, Inflation Woes

0:00From the Daily News Now Network, this is Sydney News Today. Iran's Supreme Leader Ali Khamenei has died sparking celebrations and street dancing across the country. While many hope for a quick regime change, history warns it could drag on for months or even years. Earlier this week, markets reacted fast with bets on oil prices jumping from $100 a barrel up to $150. Traders see a short-term surge, but plenty could still go wrong. Meanwhile, Australia's Reserve Bank faces new inflation worries just two weeks before its next interest rate decision. Hotter energy costs from the conflict echo the Ukraine invasion, which central banks once called transitory but fueled lasting price hikes. According to experts, disruptions in the Persian Gulf could hit harder than before thanks to easy drone attacks on shipping. Re-routing oil would be tough, unlike Europe's quick shift away from Russia. Australia stands to gain from higher liquefied natural gas exports, but drawn-out chaos might hurt trading partners like India and Japan, sparking.

1:05Dead issues in emerging economies much like after Ukraine. Special thanks to our sponsor for supporting this episode. If earbuds fall out when you sleep, this is for you. A pillow with built-in sound, S-O-L-I, solelypillow.com.