MONEY MASTER

As Israel threatens retaliation against Iran for a recent missile attack , the global focus is increasingly on Iran’s critical oil and gas infrastructure in the Persian Gulf . Crude oil prices have already risen 4.5% in the past three days , though physical shipments of oil have so far remained uninterrupted. Iran, the third-largest oil producer in OPEC , plays a pivotal role in global energy supply. About a fifth of global crude demand and a significant portion of liquefied natural gas pass through the Strait of Hormuz , a key maritime chokepoint along the Iranian coast. This waterway also serves as a passage for oil shipments from neighboring countries, including Saudi Arabia, Iraq, the UAE, Kuwait, and Qatar . The range of potential Israeli responses could target military facilities , oil installations , or even nuclear sites in Iran. Any disruption to oil supplies from the region could send crude prices soaring, a significant concern with US elections looming next month. Ir...

  Malaysia's energy stocks extended their rally on Friday as oil prices continued to climb , driven by escalating fears of Middle East tensions. The Bursa Malaysia Energy Index , which tracks 23 oil-and-gas stocks, surged as much as 4.2% . Dialog Group Bhd (KL ) , a key player in storage terminals, led the charge, climbing over 4% to RM2.23 . Similarly, Yinson Holdings Bhd (KL ) , a services firm, was up 3% to RM2.73 . This surge in oil prices reflects "elevated geopolitical worries," according to Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho Bank. However, he noted that it falls short of indicating fears of an all-out conflict. The Brent crude benchmark jumped to US$78 , a sharp rise from under US$70 last month , as concerns mount over potential Israeli strikes on Iran’s oil production capabilities , following recent conflicts. Iran, the world’s seventh-largest oil producer , contributes nearly three million barrels per day to global supply. More...

Asian stocks retreated on Friday, while oil prices surged , marking their sharpest weekly gain in over a year, as escalating tensions in the Middle East kept markets jittery ahead of the upcoming US jobs report. US President Joe Biden's comments about potential strikes on Iran's oil facilities as retaliation for Tehran's missile attack on Israel spurred the rise in oil prices , which had already been climbing due to the conflict in the region. Brent crude futures edged down 0.04% to US$77.59 per barrel but are on track for a weekly gain of 7.8% , the largest since February 2023. US West Texas Intermediate (WTI) crude steadied at US$73.71 per barrel, set for an 8.1% weekly advance , the biggest since March 2023. The heightened caution led most Asian equities into the red , with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.32%, and Australian shares dropping 1%. Meanwhile, Japan's Nikkei reversed early gains , trading 0.08% lower, and heading ...