Isolated and exposed: can New Zealand’s fragile economic recovery withstand the global oil shock?

New Zealand economic growth tipped to overtake Australia’s this year but Middle East conflict casts a shadow over outlook Just as New Zealand’s fragile economic recovery shows flickers of improvement – with economists predicting its annual growth could surpass that of its larger neighbour Australia – it is facing a new threat: the war in the Middle East. New Zealand is particularly exposed to the energy shocks produced by the conflict – and to economic crises generally – with the small, isola...

By Callum Jones and Eva Corlett in Wellington

Asia-Pacific markets set to rise as Middle East tensions escalate after UAE energy attacks

Asia-Pacific markets were set to climb on Wednesday as investors tracked escalating tensions in the Middle East.

Oil prices relax slightly amid Middle East tensions; Brent crude drops to $102 per barrel

Middle East tensions are causing oil prices to fluctuate, with Brent crude and WTI experiencing initial gains followed by a slip. Attacks on energy facilities and threats to key shipping routes are fueling supply concerns, impacting global markets and leading to higher gasoline prices in the US. India faces LPG supply worries, though authorities assure stability.

By TOI BUSINESS DESK

Brent crude rises to three-and-a-half-year high as Iran widens strikes on energy targets

OIL PRICE WATCH as of March 18, 2026

MANILA, Philippines — Motorists were hit with a big-time increase in oil prices this week, with no immediate relief in sight as global oil markets remain under pressure driven by supply concerns linked to ongoing tensions in the Middle East. Market watchers said the current trend suggests that prices could remain elevated, especially if supply

By Dona Policar