Best of Business

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

5 min · 31. maj 2026
episode Kelly Eckhold: Westpac Chief Economist on oil prices dropping amid Iran deal negotiations cover

Description

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."  LISTEN ABOVE See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

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episode Liam Dann: NZ Herald Business Editor at Large calls for bipartisan effort to reform KiwiSaver artwork

Liam Dann: NZ Herald Business Editor at Large calls for bipartisan effort to reform KiwiSaver

There's hopes compulsory KiwiSaver can help New Zealand catch up to Australia's economy.  The National Party is campaigning on making KiwiSaver mandatory for all workers, and for gradually raising the matching rate to six percent.  NZ Herald Business Editor at Large Liam Dann says he wants to see a bipartisan effort and for the Labour Party to get on board.  He says people will need to get used to that six percent figure.  "They're at higher levels than that in Australia - it's painful in the short term, but they do cope. And then, you move on and then you forget about it and you just look at that giant figure on your KiwiSaver statement." LISTEN ABOVE See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

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