Stocks
Brent Crude Falls Below $100/Barrel as Trump Talks Up Iran Deal
Brent crude oil prices dropped below US$100 per barrel on Wednesday after US President Donald Trump said talks with Iran had gone well. Trump also told a gathering of world leaders that if a deal wasn't reached, Iran would face annihilation.
The price of Brent crude fell 0.9% to US$99.42/barrel at 7am in Auckland, as supply concerns eased amid reports that Saudi Arabia was testing the damaged East-West pipeline bypassing the Strait of Hormuz.
US stock markets were mixed, with the tech-heavy Nasdaq Composite rallying on cheaper energy, while financial firms such as JPMorgan Chase & Co and American Express weighed on the Dow Jones Industrial Average.