Sharp, essential news and analysis from Malaysia.
Crude oil prices jumped 2% on Thursday after the Trump administration rejected returning to a June agreement with Iran, dimming prospects for diplomatic progress and raising concerns over Middle Eastern supply disruptions.
Royal Dutch Shell's first-half earnings jumped 70 per cent to US$16.75 billion, driven by volatile oil markets and strong trading performance despite disruptions in the Middle East and geopolitical tensions affecting global energy supplies.
Iran's Supreme National Security Council secretary has warned that American maritime blockade operations could prompt Tehran to shut the Strait of Hormuz and other key shipping lanes, with potential ripple effects across global energy supplies.
Crude futures dropped sharply to two-week lows on Tuesday after a temporary halt in US-Iran hostilities raised hopes for diplomatic engagement, though fundamental supply disruptions and regional conflicts continue.