There's growing concerns about the economic impacts of the war in Iran.

Crude oil prices have topped $100 US dollars a barrel for the first time since 2022 - and our petrol prices surged another 14 cents over the weekend.

Harbour Asset Management's Shane Solly says these attacks are directly impacting key fuel sources, which has got economists worried about future prices.

LISTEN ABOVE

There's growing concerns about the economic impacts of the war in Iran.
Crude oil prices have topped $100 US dollars a barrel for the first time since 2022 - and our petrol prices surged another 14 cents over the weekend.
Harbour Asset Management's Shane Solly says these attacks are directly impacting key fuel sources, which has got economists worried about future prices.
LISTEN ABOVE

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Shane Solly: Harbour Asset Management expert on the economic impact of the war in Iran

The Government is actively monitoring the impact international fuel prices are having on the price we're being asked to pay at the pump. 

Crude oil prices have topped US$100 a barrel for the first time in three years, and our petrol prices surged another 14 cents in the weekend. 

Finance Minister Nicola Willis told Mike Hosking that they’re conscious that the price at the pump impacts not only most New Zealanders, but also freight costs and other costs across the economy. 

But she says they need to understand what the bigger picture looks like before they overreact, as any money they throw at the problem is money they will need to borrow.  

“We need to be prudent about New Zealand’s fiscal position.” 

LISTEN ABOVE   

The Government is actively monitoring the impact international fuel prices are having on the price we're being asked to pay at the pump.&nbsp;
Crude oil prices have topped US$100 a barrel for the first time in three years, and our petrol prices surged another 14 cents in the weekend.&nbsp;
Finance Minister Nicola Willis told Mike Hosking that they&rsquo;re conscious that the price at the pump impacts not only most New Zealanders, but also freight costs and other costs across the economy.&nbsp;
But she says they need to understand what the bigger picture looks like before they overreact, as any money they throw at the problem is money they will need to borrow. &nbsp;
&ldquo;We need to be prudent about New Zealand&rsquo;s fiscal position.&rdquo;&nbsp;
LISTEN ABOVE &nbsp;&nbsp;

Nicola Willis: Finance Minister on the impact of the conflict in the Middle East on fuel prices

Garth Bray joins Ryan with today's business update thanks to Forsyth Barr.

Garth Bray joins Ryan with today's business update thanks to Forsyth Barr.

 Business: US tech sector layoffs up | oil shock | commercial insurance costs fall

Some positive signs from international markets overnight. 

American and European markets tumbled on Friday due to ongoing concerns about the Middle East conflict. 

Asia-Pacific markets followed suit yesterday, with the NZX 50 dropping 3.1%. 

Craigs Investment Partners Investment Director Mark Lister told Mike Hosking trading overnight has been more subdued. 

He says oil prices got up to about $120 a barrel and are now back in the 90s, and the US, UK, and Europe markets are down again, but only slightly. 

LISTEN ABOVE   

Some positive signs from international markets overnight.&nbsp;
American and European markets tumbled on Friday due to ongoing concerns about the Middle East conflict.&nbsp;
Asia-Pacific markets followed suit yesterday, with the NZX 50 dropping 3.1%.&nbsp;
Craigs Investment Partners Investment Director Mark Lister told Mike Hosking trading overnight has been more subdued.&nbsp;
He says oil prices got up to about $120 a barrel and are now back in the 90s, and the US, UK, and Europe markets are down again, but only slightly.&nbsp;
LISTEN ABOVE &nbsp;&nbsp;

Shane Solly: Harbour Asset Management expert on the economic impact of the war in Iran

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