Oil prices

Can Iran legally impose tolls in the Strait of Hormuz?

The US disputes Iran’s authority to charge tolls

A crude oil tanker at anchor in Galveston Bay as it made its way to the Port of Houston in Texas City in March. Data shows that the US was last a net exporter of crude in 1943.

Iran war brings US close to net crude exporter for first time since World War II

Atlantic Basin and Asian buyers are reaching further out for available supply

West Texas Intermediate traded around US$92 a barrel on Wednesday.

Oil fluctuates on prospect of fresh peace talks with Hormuz shut

Heightened export demand pushed total oil and fuel exports to the highest level ever, said EIA 

Japan has tapped its strategic oil reserves in two tranches since the Iran war.

Japan to provide US$10 billion to South-east Asia to aid with surging oil prices

Supply-chain disruptions in Asia will have a significant impact on its economy

Higher energy prices will increase Indonesia’s subsidy costs and weigh on its Budget.

Indonesia’s rating most at risk in South-east Asia amid war, S&P says

Malaysia is seen as well-placed to weather the global energy shock

Brent fell 4.6 per cent to settle below US$95 on Tuesday.

Oil plunges as US and Iran weigh second round of truce talks

Experts warn the consequences of the war on energy markets may still be felt through the coming months and years

The Jurong Rock Caverns, which was opened in 2014, are part of how the Government plans ahead for Singapore’s future, said Coordinating Minister for Public Services Chan Chun Sing.

Singapore has experience to explore more underground spaces for fuel reserves: Tan See Leng

Jurong Rock Caverns facility can store crude oil or compatible products to increase storage capacity for all of local refineries

US President Donald Trump said that Iran had been in touch on Monday and wanted to make a deal, adding that he would not sanction any deal that allowed Teheran to possess a nuclear weapon.

US, Iran may resume talks this week despite port blockade

Signs that diplomatic engagement might continue have calmed oil markets

Malaysia government’s spending has ballooned as it maintains subsidies to keep retail pump prices low.

Malaysia to boost biodiesel use to cope with Middle East conflict fallout 

Finance ministry will spend RM7 billion on subsidies in April, including for petrol and diesel