Oil price rollercoaster hammers South-east Asia’s top energy counters
Energy stocks in Malaysia and Indonesia reverse course this week as oil prices slide below US$70 following a ceasefire between Israel and Iran
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[KUALA LUMPUR & JAKARTA] Oil and gas stocks (O&G) across Malaysia and Indonesia are giving up recent gains, following a volatile two-week rally driven by escalating tensions between Israel and Iran that had sent crude prices briefly surging.
The two markets, home to South-east Asia’s most actively traded energy counters, offer a clear snapshot of how regional investors are responding to geopolitical swings in global oil prices.
By Wednesday (Jun 25), the short-lived oil price rally had sharply reversed, with benchmark Brent crude stabilising below US$70 per barrel – a steep drop from the five-month high of US$81.40 reached just two days earlier.
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