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Oil prices surged 2% on Thursday after Donald Trump rejected prospects of reviving a June agreement with Iran, signalling continued tension in the Middle East and maintaining supply uncertainty in a region critical to global energy markets.
Kenanga Research cautions that Malaysia's economy remains exposed to crude oil price swings despite the country's position as a net energy exporter and strength in liquefied natural gas shipments.
Malaysia's status as a net energy exporter masks underlying vulnerability to oil price fluctuations, according to Kenanga Investment Bank. Despite a RM45.4 billion LNG surplus, the country runs a RM27.2 billion petroleum deficit, with fuel subsidies creating fiscal exposure at relatively low price thresholds.
Oil prices extended gains Wednesday as geopolitical tensions near the Strait of Hormuz kept traders cautious. Brent crude rose 0.5% to $91.44 a barrel amid uncertainty over shipping access and renewed Iranian military posturing.
Oil prices climbed slightly Wednesday as Middle East shipping attacks persisted, though gains remained modest after major forecasters lowered their 2026 demand projections amid faltering US-Iran ceasefire talks.
Oil prices climbed over 1% as diplomatic hopes between the US and Iran deteriorated following President Trump's demands for compensation. Supply concerns persist over the Strait of Hormuz and Red Sea shipping routes.
Shell's first-half earnings jumped 70 per cent to US$16.75 billion, capitalising on oil price volatility tied to Middle East tensions. Trading gains and strong operational performance offset disruptions to some facilities.
Oil prices fell 5% to their lowest levels in two weeks as fighting paused between the US and Iran, raising hopes for potential negotiations. However, the closure of key shipping routes and ongoing regional threats keep markets cautious.
Malaysia's stock market retreated as crude oil surged past $100 a barrel on Middle East tensions, triggering a flight from technology equities and pushing the FBM KLCI toward a 10-day low despite gains in energy-linked counters.
Malaysia's FBM KLCI declined Wednesday as banks and plantation stocks faced selling pressure, offsetting overnight US market strength. Investors remain cautious amid geopolitical tensions and oil price volatility.