Global financial market turmoil overnight has come with a silver lining for motorists as oil prices have slumped to their lowest level this year.

Cheaper petrol at the pump should follow in coming days after Brent Crude Oil fell 5 percent to US73.74 - a price not seen since mid-December 2023.

NZ Herald business editor at large Liam Dann unpacks the economic factors behind the slump.

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