David Shoebridge wants the Greens to ‘seize this moment’. Is his more combative style the answer?

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-09-30 • Permanent link

Tensions between the US and Iran have sparked a global energy market frenzy, with oil prices surging to their highest levels in several months. The price of Brent crude has reached $85.50 per barrel, a 3% increase that caught many investors off guard. This sudden escalation has left analysts scrambling to predict the future trajectory of oil prices. JP Morgan analysts have predicted that the price will continue to rise, but some experts warn that a prolonged conflict could lead to a sharp decline.

The impact of rising oil prices will be felt across the globe, from consumers at the pump to investors in the energy sector. With fuel prices expected to increase, motorists can expect to pay more for their daily commutes. The ripple effect will also be felt in the broader economy, with higher energy costs potentially leading to inflation and reduced consumer spending. As a result, policymakers will need to carefully monitor the situation to avoid exacerbating the economic downturn.

Historically, conflicts between major oil-producing nations have led to significant price volatility. The 1973 Arab-Israeli War, for example, saw oil prices skyrocket, leading to widespread shortages and economic disruption. While the current situation is different, some experts warn that a prolonged conflict could have similar consequences. Others argue that the rise of alternative energy sources and increased efficiency measures will mitigate the impact of price increases.

As the situation continues to unfold, investors will be watching closely for any developments that could impact the global energy market. With the price of oil expected to remain high in the short term, investors may want to consider diversifying their portfolios to minimize exposure to the energy sector. In the longer term, the rise of electric vehicles and renewable energy sources could lead to a shift in the global energy landscape, potentially reducing dependence on fossil fuels and mitigating the impact of price increases.