The cost of conflict: Asia’s energy risk

As tensions in the Middle East disrupt energy flows and rattle markets, the impact is already filtering across Asia through higher oil prices, fragile supply chains and growing uncertainty over what comes next.

In this episode of Simon Tay’s Political Cafe from The Business Times, Tay sits down with Sim Hui Ting, vice president and senior analyst, corporate finance group at Moody’s Ratings, to unpack how the Iran conflict is reshaping the region’s economic outlook. The conversation moves quickly from immediate market volatility to deeper structural questions: how exposed Asia really is to Middle Eastern energy, how long governments can cushion the shock, and whether this crisis could accelerate a long overdue rethink of energy security.

Why listen

• The “fog of war” is now economic Uncertainty is no longer confined to the battlefield. It is showing up in prices, supply chains and corporate decision-making.

• Why oil shocks don’t fade quickly Even if fighting stops, damaged infrastructure, insurance costs and supply bottlenecks can keep prices elevated.

• Asia’s energy vulnerability, exposed Heavy reliance on Middle Eastern oil leaves the region particularly sensitive to disruptions in key chokepoints.

• A forced rethink on energy strategy From coal to renewables, countries may need to balance energy security with long-term transition goals.

The discussion offers a clear-eyed view of how a geopolitical crisis can ripple through economies in uneven and unpredictable ways. For businesses and investors, the message is straightforward: this is not just a short-term shock to ride out. It is a reminder of how fragile the global energy system remains. Listen now.

Discover more podcasts from The Business Times at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg. You can also find more of Professor Tay’s thoughts in his column Politics That Matter.

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Written and hosted by: Simon Tay, Chairman, Singapore Institute of International Affairs

With Sim Hui Ting, vice president and senior analyst, Moody’s Ratings

Edited by: Howie Lim & Claressa Monteiro

SEE ALSO

The fog of the Iran war

Thailand’s next test: Stability is not enough

Produced by: Howie Lim & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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