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‘Perfect storm’: Singapore energy traders, lawyers grapple with Iran war fallout

Quick judgments are needed to cope with extreme price changes and flurry of client requests

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Benicia Tan &

Sharanya Pillai

Published Tue, Mar 24, 2026 · 09:15 PM
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    • Clockwise from top left: Oriano Lizza, sales trader at CMC Markets Singapore; June Goh, senior oil analyst at Sparta Commodities; Tam Shu Ching, a senior associate with Herbert Smith Freehills Kramer in Singapore; Baldev Bhinder, managing director at Blackstone & Gold.
    • Clockwise from top left: Oriano Lizza, sales trader at CMC Markets Singapore; June Goh, senior oil analyst at Sparta Commodities; Tam Shu Ching, a senior associate with Herbert Smith Freehills Kramer in Singapore; Baldev Bhinder, managing director at Blackstone & Gold. PHOTOS: CMC MARKETS; SPARTA COMMODITIES; HERBERT SMITH FREEHILLS KRAMER; BLACKSTONE & GOLD

    [SINGAPORE] Singapore’s energy-sector professionals are in crisis management mode, as the Middle East war throws up wild price swings, cargo disruptions and legal conundrums.

    “We are seeing a perfect storm of disruption across the trading chain,” said Baldev Bhinder, managing director at Blackstone & Gold, a disputes law firm specialising in commodities and trade.

    Traders, lawyers and analysts The Business Times spoke with said that they were making rapid judgment calls despite information gaps, all while managing stress in an increasingly volatile environment.

    Iran warIranenergy pricesoilOil prices

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