KUALA LUMPUR, April 2 (Bernama) -- Bursa Malaysia reversed yesterday's gains to close lower on Thursday, with the key index settling off its lows, as optimism over a swift end to the West Asia conflict faded sharply following US President Donald Trump's speech this morning, which fuelled global risk-off sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 10.60 points, or 0.62 per cent, to 1,698.30 from Wednesday's close of 1,708.90. The benchmark index opened 3.14 points firmer at 1,712.04, and moved between 1,688.89 and 1,712.80 throughout the day. Market breadth was negative with 744 losers outpacing 374 gainers, while 436 counters were unchanged, 1,094 untraded, and 11 suspended. Turnover slipped to 3.20 billion units worth RM3.50 billion from yesterday’s 3.58 billion units worth RM3.56 billion.
Global fuel markets are tightening rapidly as diesel prices spike to multi-year highs , reflecting severe supply disruptions caused by the ongoing Middle East conflict. Diesel Futures Hit Highest Since 2022 European diesel futures surged to $1,493 per ton (above $200 per barrel) , rising as much as 9.4% , marking the highest level since 2022 . The rally highlights growing concerns that fuel shortages could emerge in the coming weeks , particularly if disruptions persist. Strait of Hormuz Disruption Chokes Supply The sharp price increase is largely driven by the near shutdown of the Strait of Hormuz , a critical global energy artery. Flows of refined fuels like diesel are heavily constrained Crude supply disruptions are forcing refiners to reduce output Global trade routes are being rerouted, increasing transport time and costs This has triggered a scramble among traders to secure supply, with shipments being diverted across longer an...