Commodities

NZ Sharemarket Stays Calm Amid Oil Price Explosion

Guavy AI Editorial Team Published July 24, 2026

Instruments

Oil

New Zealand's sharemarket remained steady despite global market turmoil caused by the surge in Brent Crude oil prices.

The oil price reached a two-month high of over US$100 (NZ$173.03) per barrel, up from around US$88 at the start of the week.

This significant increase unnerved sharemarkets worldwide, but New Zealand's S&P/NZX 50 Index showed resilience, experiencing only a small fall at the opening before trading steadily.

The Wire

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