Iran has warned global markets to prepare for oil at US$200 per barrel , escalating rhetoric as attacks intensify and shipping through the Strait of Hormuz remains effectively frozen. While oil prices have retreated from recent highs near US$120, Tehran’s message underscores the growing risk of a prolonged energy shock. Key Takeaways Iran warns oil could surge to US$200 per barrel Strait of Hormuz remains blocked, disrupting 20% of global oil flows 14 merchant ships reportedly struck since conflict began IEA expected to propose record 400 million-barrel reserve release Markets currently betting conflict may be contained Oil Market on Edge Iran’s military command said oil prices depend on regional security — warning the world to prepare for US$200 crude if instability persists. The Strait of Hormuz, a narrow chokepoint along Iran’s coast, normally handles: About 20% of global oil shipments A significant share of global LNG trade So far: At least 14 ships have reportedly been struck...
KUALA LUMPUR (Aug 1): The FBM KLCI rose 5.1 points or 0.3% with Asian shares as investors bargain hunted for index-linked Public Bank Bhd and Malayan Banking Bhd (Maybank) shares.
At 5pm, the KLCI closed at 1,765.13 points while Public Bank rose 32 sen to RM20.60 to become Bursa Malaysia's fourth-largest gainer.
Maybank added 11 sen to RM9.65.
Across Bursa Malaysia, 1.82 billion shares worth RM2.24 billion were traded. There were 503 decliners compared with 271 gainers.
Actively-traded stocks included Frontken Corp Bhd and ManagePay Systems Bhd.
Analysts said overall market sentiment was still negative as the number of declining stocks on Bursa Malaysia outnumbered gainers.
“There is an improvement on the composite index today. However underlying overall sentiment is still negative as there are twice as many [decliners] than gainers today,” Inter-Pacific Research Sdn Bhd research head Pong Teng Siew told theedgemarkets.com
Asian shares rose. Japan's Nikkei 225 added 0.3% while Hong Kong's Hang Seng rose 0.79%.
Reuters reported that Asian shares rose on Tuesday as investors looked to a barrage of economic data around the world to confirm recent signs the global economy is in fine fettle with inflation staying well contained.
Source: The Edge

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