In-depth reporting on Malaysia and the region.
Oil prices posted modest gains Wednesday as Middle East tensions and shipping disruptions supported markets, but forecasters trimmed 2026 demand outlooks, capping gains and signalling prolonged economic uncertainty.
Japan's Prime Minister Sanae Takaichi has called on Iran to refrain from levying additional charges on vessels transiting the Strait of Hormuz, a critical waterway for global energy supplies and a vital concern for Asian economies.
Iran and Oman are developing operational mechanisms to manage navigation through the Strait of Hormuz, Iranian Foreign Minister Abbas Araghchi announced. The move comes as Tehran and Washington pursue diplomatic channels despite escalating military tensions.
The US dollar has reached a 39-year high above 163 yen, driven by safe-haven buying amid escalating Middle East tensions and expectations of higher US interest rates. Japan's warnings of potential intervention have failed to stem the currency's advance.
Donald Trump has escalated rhetoric against Iran, declaring the US will destroy an Iranian bridge or power plant for each attack on ships transiting the Strait of Hormuz, despite a June ceasefire framework.
Malaysia's stock market opened lower as crude oil prices surged past $100 per barrel, driven by Middle East conflict concerns. The FBM KLCI fell 6.56 points, though energy stocks and plantation plays benefited from rising crude.
The EU and Gulf Cooperation Council have jointly declared that no state can claim sovereignty over the Strait of Hormuz or impose fees on international shipping, condemning Iranian attacks that threaten global maritime security.
Iran's Supreme Leader Khamenei has condemned the United States for breaching a peace memorandum signed by President Trump and Iran's President Pezeshkian in June, describing the US as fundamentally untrustworthy and warning of severe consequences.
The United States has instructed its citizens to refrain from travelling to Lebanon and northern Israel, citing elevated security concerns and potential for unpredictable conflict escalation in the volatile West Asia region.
Three oil tankers were struck in separate incidents off Oman on Tuesday, with three crew members missing and six injured. The incidents heighten concerns about maritime security in the strategic Strait of Hormuz.
Iran's Foreign Minister Abbas Araghchi has reasserted Tehran's role as protector of the Strait of Hormuz, dismissing US President Donald Trump's proposal to impose a 20 per cent toll on vessels transiting the critical shipping lane.
Iran has rejected US President Donald Trump's proposal for continued negotiations, insisting Washington must first meet Tehran's demands regarding Strait of Hormuz passage and oil exports. Trump responded with threats of military strikes.
Hamas spokesman Hazem Qassem narrowly escaped an Israeli airstrike in Gaza on Thursday when his vehicle was targeted, though his bodyguard was killed. The incident marks renewed escalation despite a ceasefire nominally in place since October.