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Over in the UK, household energy prices will rise by 13 percent a year in July, as soaring wholesale costs caused by the impact of the Iran war hit bills for the first time.
Energy costs have jumped as a result of Iran blocking the crucial Strait of Hormuz shipping route - where a fifth of the world's oil and gas is carried.
UK correspondent Gavin Grey says even if the Strait was unblocked tomorrow, this conflict would still leave a significant economic impact.
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