Oil price rollercoaster hammers South-east Asia’s top energy counters

[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.