KUALA LUMPUR, Aug 24 (Bernama) -- Bursa Malaysia ended marginally lower on Monday as investors awaited further corporate earnings results for clearer market direction, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.15 of a point to 1,736.33 from last Friday’s close of 1,736.48. The benchmark index opened 1.83 points higher at 1,738.31, and fluctuated between 1,733.07 and 1,739.47 throughout the day. On the broader market, losers trounced gainers 714 to 482, while 539 counters were unchanged, 1,139 untraded and 46 suspended. Turnover decreased to 3.60 billion units valued at RM3.03 billion from 3.91 billion units valued at RM3.32 billion last Friday.
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...