Sharp, essential news and analysis from Malaysia.
Oil prices gained ground Wednesday as attacks on regional shipping continued and diplomatic efforts stalled, though forecasters' downward revisions to global demand projections for 2026 capped the advance.
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.
President Trump has escalated rhetoric over the Strait of Hormuz, threatening to destroy Iranian infrastructure for each attack on commercial vessels, amid ongoing military exchanges between Washington and Tehran.
The Saudi-led coalition operating in Yemen has pledged to implement operational measures to safeguard commercial vessels traversing the Bab al-Mandab Strait, responding to the Houthi group's declaration of a maritime ban targeting Saudi Arabia.
Three major Gulf states activated civil defence systems Friday following Iranian military operations and hostile exchanges over the Strait of Hormuz, signalling a dangerous spike in regional tensions despite recent diplomatic efforts.
India has instructed shipping companies to stop deploying Indian seafarers on routes through the Strait of Hormuz, citing escalating maritime attacks and tensions in the region.
British Prime Minister Keir Starmer has called for an urgent resumption of ceasefire negotiations between the United States and Iran, warning that recent attacks on commercial shipping in the Strait of Hormuz must stop immediately.
The US Treasury Department has sanctioned individuals and exchange houses allegedly connected to Iran's leadership following attacks on commercial vessels in the Strait of Hormuz, drawing sharp criticism from Tehran.