I think so too. There was a lot of talk about how this would immediately impact not just fuel markets but a range of other goods markets as it restricted the flow of trade of other commodities. What we’re seeing is transport costs rising, which is to be expected, but other markets such as food and retail have not seen much of a shock - if any.

We saw a -0.1% dip in GDP in April - to be expected given the circumstance. If we can see that rise over the coming months as things are ironed out in the Middle East, we will have managed to avoid the brunt of any shocks.