In-depth reporting on Malaysia and the region.
Brent and WTI crude futures advanced on Wednesday as uncertainty persists over shipping through the Strait of Hormuz following the collapse of ceasefire talks between the US and Iran.
Oil prices jumped Friday as US-Iran military confrontations intensify and Tehran signals readiness to block Red Sea shipping lanes through Houthi proxies, pushing Brent crude nearly 0.83% higher to $84.93 per barrel.
The International Energy Agency has upgraded its 2026 oil demand forecast to 103.463 million barrels per day, alongside raising production expectations. The adjustments reflect moderating demand declines.