The ongoing conflict in the Middle East has sparked concerns about global oil shortages, domestic rising petrol and diesel costs, and it's got experts speculating.

The Government is working to find a solution, with Energy Minister Simon Watts meeting with his counterparts in Tokyo for the Indo-Pacific Energy Security Forum to discuss the issue.

Nathan Surendran is the chair of the Wise Response Society, and he says the conflict is causing oil refineries all over the world to slow down production. 

"There is the National Fuel Plan - the Government has, effectively, a staged incremental rationing type process...it should signal that rationing is a potential possibility, because signalling it gives people time to adjust mentally." 

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One expert has suggested Jetstar won't follow Air New Zealand in cutting upcoming domestic flights.

The airline plans to cancel about 1100 flights over the next six to eight weeks because of fuel price hikes - impacting about 44,000 passengers.

It's already raised fares to help cover costs.

Board of Airline Representatives NZ executive director Cath O'Brien, says Jetstar's unlikely to do the same because Air New Zealand's domestic network has a wider spread.

"They have a wholly different problem than Jetstar, which is operating trunk services and jets only."

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The US President's social media posts suggest he's worried about the price of oil, as the US and Israel bombard Iran into an 11th day.

More than 1700 have been killed in the Middle East - most in Iran, and hundreds in Lebanon.

Despite this, markets appear to have calmed down following the initial shock, and Milford Asset Management's Brendan Larsen explained why.

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The balance sheet is looking strong for Briscoe Group, which managed to score a few goals late in the game. 

The retailer's posted record annual sales of close to $800 million, for the year ending January 25th. 

Its homeware brand Briscoes saw 1.42 percent sales growth - while Rebel Sport trailed with growth of 0.13 percent.

Managing director Rod Duke says the business just changed its promotions approach slightly. 

"Generally, the market from about Black Friday just eased up a bit. People just got a bit more confident."

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Public health experts have noticed this latest Covid wave is worsening as fewer Kiwis are getting vaccination boosters and tests, and it's renewed debate about sick leave.

Wastewater analysis from PHF Science shows that the number of cases is at the highest rate it's been for over six months, and Health NZ says there's been 50 hospitalisations and 19 deaths from the virus this week.

Otago University associate professor Paula O'Kane says it's important to let sick leave accrue every year - and stay consistent as Kiwis move jobs.

"It would give people access to better sick leave, it might discourage misuse of sick leave, and when people are actually sick for a longer period of time, they're better covered. So it would really help to deal with issues around people's long-term illness, for example." 

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There's predictions Heinz Wattie's won't be the last to shutter operations this year.

It's proposing closing three manufacturing facilities in Auckland, Christchurch and Dunedin, and packing operations in Hastings - with 350 jobs at risk.

It also plans to phase out sales of products including frozen vegetables, impacting growers.

The Employers and Manufacturers Association's Alan McDonald says others will go.

"We keep hearing rumblings of others getting ready to exit, significant-sized manufacturers as well as smaller ones. De-industrialisation's been happening, prompted by some very high electricity prices." 

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There's been a significant increase in property flippers and it's prompted concerns from experts.

One of the country's most prominent buyers' agencies has complained to the Real Estate Authority about the increase - following a sharp drop in 2023. 

iFindProperty founder Maree Tassell says there's a lot of deception that comes with flipping properties, and vendors often don't find out until it's too late.

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Stock markets have rebounded and oil prices have dropped below yesterday's forecast, following recent comments from US President Donald Trump.

Trump indicated the war in the Middle East could be over 'very soon', and it's led to ripple effects across sharemarkets all over the world.

Matt Goodson from Salt Funds Management says it's unclear if the US can walk away from this conflict or if the Strait of Hormuz will reopen in time.

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A legendary West Coast pub has removed its popular outdoor seating under threat of a $20,000 fine.

It was decided the Formerly the Blackball Hilton's tables and chairs fell outside the licensed boundary.

Owner Cynthia Robins says they've been there for decades - and never caused a problem.  

"They're becoming much more strict with what's within the licenced area. We said - well, until this is resolved, we just can't have the tables there? Well, now I feel like the town doesn't look as inviting because those tables aren't out there with the umbrellas up, they look more friendly."

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An aviation commentator says Air New Zealand needs to look at ways to cut costs as the war in the Middle East impacts fuel prices. 

The airline's adjusted fares - lifting domestic flights $10 and long-haul flights $90.

It's suspended its guidance from less than a fortnight ago, expecting second-half earnings similar to the $59 million first-half loss.

Irene King says the airline could slash its spending. 

"They really have never addressed the cost side of their business post-Covid - and they really could get stuck in there, their labour costs are astronomical."

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