Deloitte warns nearly one million jobs at risk from rising oil prices

Deloitte Access Economics warned that nearly one million Australians could lose jobs if crude oil prices soar to $US150 per barrel. Inflation could exceed 6.5 percent under such conditions, with severe impacts on manufacturing and tourism. The ongoing volatility in oil prices stems from failed US-Iran peace talks, adding uncertainty to Australia's economic outlook.

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Summary by Glance · Original reporting by The Age