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US President Donald Trump has ordered an investigation into major oil companies, citing slow progress in reducing gasoline prices. The move comes as geopolitical tensions in the Middle East continue to influence global energy markets.
Malaysia will maintain its BUDI95 fuel subsidy quota at 200 litres monthly while monitoring Middle East geopolitical developments and their effect on international crude oil markets before reconsidering restoration to 300 litres.
Most Asian stock markets fell Monday as Middle East peace doubts lifted oil prices and bond yields, intensifying expectations for higher US interest rates. Political turmoil in Britain added to market jitters.
Oil prices edged higher Friday as doubts emerged over a US-Iran peace agreement following cancelled Swiss negotiations and escalating Israeli attacks on Lebanon, threatening broader Middle East stability.
Malaysia's Finance Ministry signals cautious optimism over a US-Iran peace agreement, expecting it to improve global oil price stability over time. However, officials warn the recovery process will be gradual as logistics and insurance costs accumulated during the crisis persist.
Oil prices fell more than 2% after the US and Iran signed an interim ceasefire agreement, with markets pricing in the prospect of Iranian crude returning to global supplies and the Strait of Hormuz reopening.