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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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Elisa Valenta
Tan Ai Leng

Elisa Valenta &

Tan Ai Leng

Published Thu, Jun 26, 2025 · 07:00 AM
    • Recent military escalation between Israel and Iran is raising fears of a potential closure of the Strait of Hormuz, a crucial waterway for global oil and gas trade. A closure could significantly impact global energy markets, causing a sharp increase in oil prices.
    • Recent military escalation between Israel and Iran is raising fears of a potential closure of the Strait of Hormuz, a crucial waterway for global oil and gas trade. A closure could significantly impact global energy markets, causing a sharp increase in oil prices. PHOTO: EPA

    [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.

    Oil pricesOil and gasMalaysiaIndonesiaAseanAsean BusinessAsia-Pacific

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