No Energy Disruption Yet, But Industry To Closely Track Prices -- S&P Global

KUALA LUMPUR, June 18 (Bernama) -- There is no global energy disruption so far, but industries will continue to closely monitor price developments, said S&P Global vice-chairman Daniel Yergin. 

He said that while there is currently a surplus of oil, industries must remain vigilant and ensure that energy security measures are firmly in place to address any potential disruptions.

“We will just have to see what happens over the next three to five days. I think we don’t know (the disruption issues expectation), as these decisions are beyond just being made by a few people.

“It is really the decisions between Jerusalem, Tehran, and Washington, and people have to make some very important decisions,” he told reporters after the Energy Asia 2025 closing ceremony here today. 

He was responding to a question on the risk of supply disruption in the Middle East.

The conflicts in the Middle East have escalated dramatically following a series of attacks by Israel and Iran on each other’s energy infrastructure.

The attacks have led to a potential closure of the Strait of Hormuz, a critical gateway to the world’s oil industry. 

At the time of writing, Brent crude oil prices decreased 0.38 per cent to US$76.16 per barrel.

-- BERNAMA