NZ shares slide as oil prices spike

The S&P/NZX 50 Index fell 228 points, or 1.9%, to 11,913.27. Turnover was $145 million.

Financial markets have been extremely volatile for the past few weeks as investors navigate the wide-reaching implications of Russia's invasion of Ukraine.

US crude oil prices rose more than 25% last week and traded above US$115 (NZ$166) for the first time since 2008.

Jarden analyst Nik Burns warned there were “significant risks to oil supplies” and “a number of credible scenarios” that could result in prices above US$150 a barrel.