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 (Jan 18): The FBM KLCI closed 7.03 points or 0.4% lower as profit-taking across Bursa Malaysia small-cap stocks dented broader market sentiment.
At 5pm, the KLCI closed at 1,821.60 points. The FBM Small Cap Index fell 184.98 points or 1.05% to 17,343.92 points.
"While the local benchmark (KLCI) steadied on buying support in selected heavyweights on Wednesday, profit taking amid heavy settlements from recent active trade on small caps weighed down the broader market. The present profit-taking consolidation process should persist till the recent heavy trade settlements have been absorbed and daily turnover stabilises at more sustainable levels," TA Securities Holdings Bhd wrote in a note today.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that although the KLCI opened higher when trading started today, quick profit-taking sent the KLCI lower.
Leong said "profit-taking activities are not just across the KLCI, but also across the broader market."
Across Bursa Malaysia, 4.6 billion shares worth RM3.29 billion were traded. Major decliners included Hengyuan Refining Co Bhd and Petron Malaysia Refining & Marketing Bhd.
Top decliner Hengyuan fell RM1.80 to close at its intraday low of RM12. The stock saw some 12 million shares traded.
Source: The Edge

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