Oil prices fell significantly throughout last week as discussions regarding an Iran deal continued to take place.

Prices are down around 8 percent for the week with Brent crude around $91 a barrel.

Westpac Chief Economist Kelly Eckhold says rumours regarding an imminent Hormuz opening agreement caused prices to drop on Friday, but things aren't fully stable.

"Mediators had sent a proposal to Trump for an agreement and then noted on his Truth Social account that he was going to make what he called a 'final determination' on the Iran issue. He was in this meeting, but we weren't that lucky." 

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Oil prices fell significantly throughout last week as discussions regarding an Iran deal continued to take place.
Prices are down around 8 percent for the week with Brent crude around $91 a barrel.
Westpac Chief Economist Kelly Eckhold says rumours regarding an imminent Hormuz opening agreement caused prices to drop on Friday, but things aren't fully stable.
"Mediators had sent a proposal to Trump for an agreement and then noted on his Truth Social account that he was going to make what he called a 'final determination' on the Iran issue. He was in this meeting, but we weren't that lucky."&nbsp;
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Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Kelly Eckhold: Westpac Chief Economist on oil prices dropping amid Iran deal negotiations

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/8279ac18-9a59-4dd3-8317-b45b0164972b/transcript