Mixed messages on Hormuz progress
Kia ora.
Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.
I'm David Chaston and this is the international edition from Interest.co.nz.
Today we lead with news commodity markets are betting all-in that a deal between the US and Iran will unlock the Strait of Hormuz soon. An Iranian State TV report has triggered the optimism. (And even though the US has denied it.)
More ships are transiting, but it is still only a fraction of 'normal'. However it is enough to drive the price of crude oil lower.
But despite all that, financial…
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