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 (Dec 9): The FBM KLCI closed 0.37% or 5.73 points lower at 1,562.71 today, weighed down by Top Glove Corp Bhd and Tenaga Nasional Bhd (TNB), while banking constituents declined.
In particular, AMMB Holdings Bhd, Public Bank Bhd, RHB Bank Bhd, Hong Leong Bank Bhd and CIMB Group Holdings Bhd retreated. But plantation stocks climbed, noted Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng.
Some 2.62 billion shares worth RM1.62 billion crossed on the local bourse today, with the most actively traded counters being Tiger Synergy Bhd, Sanichi Technology Bhd and TDM Bhd.
Top gainers were Nestle Malaysia Bhd, Kuala Lumpur Kepong Bhd and Batu Kawan Bhd, while the biggest losers of the day were Sungei Bagan Rubber (Malaya) Bhd, Heineken Malaysia Bhd and TNB.
A total of 389 counters saw gains, while 421 counters recorded declines, and 417 counters were unchanged.
Reuters reported today that most Southeast Asian markets were subdued following weak Chinese export data, signalling weakness from the regional Asian economy, which has offset the positive Wall Street performance on the back of solid US jobs numbers.
Chinese exports, it noted, shrank for the fourth consecutive month, implying that the Sino-US trade war is taking a toll on the middle kingdom.
While some Asian markets did get some uplift from US equity indices, as investors reacted positively to a 10-month high in US job growth in November, uncertainty over the US-China trade war lingers as US President Donald Trump has yet to decide on whether to implement a new set of tariffs against Chinese goods entering the US that is set to come into force on Sunday (Dec 15), the news wire wrote.
The Shanghai Composite closed 0.09% or 2.46 points higher at 2,914.48 points, while Hong Kong’s Hang Seng saw a 0.01% decline to 26,494.73 points. Meanwhile, South Korea's Kospi gained 0.33% or 6.8 points to end at 2,088.65 points, while Japan’s Nikkei 225 rose 0.33% or 76.3 points to 23,340.7 points.
Source: The Edge
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