Hormuz reopening to flood world with crude oil
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 of falls in many metrics across the board today, highlighted by commodity prices, crypto and interest rates. Equities are lower too. But the USD is rising on risk-aversion.
There is now international agreement to open the Strait of Hormuz ("without tolls") and that is expected to see a rush of hundreds of ships and cargoes on the move, flooding refiners with product…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.