Oil Prices May Climb Towards US$90-US$100 On Saudi Aramco’s Ras Tanura Disruption, Analysts Say

By K. Naveen Prabu

KUALA LUMPUR, March 3 (Bernama) -- Crude oil prices may head towards the US$90-US$100 per barrel level following the disruption at Saudi Arabian state-owned oil giant Saudi Aramco’s Ras Tanura plant, analysts say.

Ringgit Eases As Prevailing Risk-off Sentiment Weighs On Local Currency

KUALA LUMPUR, March 2 (Bernama) -- The ringgit closed lower against the US dollar on Monday, as prevailing risk-off sentiment weighed on the local currency amid heightened uncertainty over the conflict in the Middle East.

Rubber Market Ends Higher On Surging Oil Prices, Supply Concerns

By K. Naveen Prabu

KUALA LUMPUR, March 2 (Bernama) -- The Kuala Lumpur rubber market ended higher today,  supported by a sharp jump in crude oil prices.

Iranian Drone Hits Saudi Aramco's Ras Tanura Refinery: Reports

ISTANBUL, March 2 (Bernama-Anadolu/Ina) -- An Iranian drone strike targeted Saudi Aramco’s Ras Tanura oil refining facility on Monday, igniting a fire outbreak, Anadolu Ajansi reported, citing media reports.

Ship, Cargo War Insurance Surge Amid Middle East Tensions

By Harizah Hanim Mohamed

KUALA LUMPUR, March 2 (Bernama) – The global maritime industry is closely monitoring rising tensions in the Middle East, with hull insurance and cargo war risk coverage skyrocketing in response to the current situation.

Malaysia Must Brace For More Expensive Imports Following Middle East Conflict -- Tengku Zafrul

KUALA LUMPUR, March 2 (Bernama) -- Malaysia must be prepared to face impacts such as more expensive imports following the conflict in the Middle East, said Malaysian Investment Development Authority (MIDA) chairman Tengku Datuk Seri Zafrul Abdul Aziz.

Brent Crude May Spike By US$15-US$20 Per Barrel Amid Us-Iran Conflict, Says Public IB

KUALA LUMPUR, March 2 (Bernama) -- The United States-Iran conflict could result in Brent crude prices posting a “knee-jerk” move of US$15-US$20 per barrel (bbl) (US$1=RM3.89) from the latest close, potentially lifting it towards the US$90 bbl level, said Public Investment Bank Bhd (Public IB).

Market Positioning May Limit Fallout On Malaysia From Middle East Conflict - Economist

KUALA LUMPUR, March 2 (Bernama) – The economic impact on Malaysia from the latest conflict in the Middle East could remain contained if tensions do not prolong, although near-term market volatility cannot be ruled out, economists said.

US-Iran Conflict Disrupts Global Aviation, Could Cost Industry More Than US$1 Bln 

By Zufazlin Baharuddin & Fatin Umairah Abdul Hamid

KUALA LUMPUR, March 1 (Bernama) -- The US-Iran conflict has significantly disrupted airport operations and is poised to have a material near-term impact on global aviation, with aggregate industry costs potentially exceeding US$1 billion (US$1 = RM3.89) should the situation intensify, an economist said.

Brent Crude Could Jump By US$20 A Barrel On Monday Amid Reported Closure Of Strait Of Hormuz - Rystad Energy

KUALA LUMPUR, March 1 (Bernama) -- Brent crude oil could jump by around US$20 on Monday as risk premiums are rapidly repriced unless clear and credible signals of de-escalation emerge over the weekend following the US-Israel attack on Iran, research and energy intelligence company Rystad Energy said today.

Malaysia To See Mixed Economic Impact From Oil Risk Premium Amid Current Iran-US Situation

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Feb 28 (Bernama) -- Malaysia’s economic outlook amid the current situation between Iran and the United States will depend largely on whether there is any physical disruption to crude shipments through the Strait of Hormuz, said SPI Asset Management managing partner Stephen Innes.

Malaysia To Study Economy Impact Following Israel, US Attacks On Iran - Economy Minister

By Nur Fadhliana Shaari

JOHOR BAHRU, Feb 28 (Bernama) -- The government will examine the impact on the country’s economy following attacks by Israel and the United States on Iran, said Economy Minister Akmal Nasruallah Mohd Nasir.