It is still early days in terms of market reaction and the conflict, so assessing the possible fallout is inherently speculative. Kiwis will feel the most immediate economic impact of the Middle East conflict at the petrol pump. As at 5pm, Brent crude (the benchmark for local pump prices) was up 5.8% from the closing price on Friday (at US$77.08). “It’s early days; the Kiwi/US is at about 59.5c, you could argue it’s in the trading range,” Eckhold said. So far, the market reaction had been relatively calm, Eckhold said.

Source: New Zealand Herald March 02, 2026 00:51 UTC