U.S. President Donald Trump says the U.S. has “the capability to go far longer ” than the projected four to five week time frame for its military operations against Iran.

His latest comments come as the U.S. and Israel have continued pounding Iran since killing its Supreme Leader Ayatollah Ali Khamenei on Saturday.

Tehran and its allies have hit back against Israel, neighbouring Gulf states, and targets critical to the world’s production of oil and natural gas.

How soon could Australians feel the financial impacts of this conflict?

• GUEST: Shane Oliver, Chief Economist at AMP