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Oil prices could soar to $100 per barrel due to Middle East escalation - Expert
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The recent escalation in the Middle East, including Iran's retaliation against Israel and Israel's genocide in Gaza, could push global oil prices back to $100 per barrel, according to Universiti Putra Malaysia MBA Director Associate Professor Dr Ahmed Razman Abd Latiff. He noted that current global oil prices are hovering around $90. However, he downplayed the potential impact on the Malaysian economy due to limited trade with the involved countries. Malaysia's main trading partners are China and the US. Razman also acknowledged that higher global oil prices could benefit Petronas due to Malaysia's significant petroleum exports. He assured Malaysians that government-controlled subsidies on RON95 petrol and diesel will shield them from global price fluctuations.
#OilPrices #MiddleEast #Escalation #Malaysia #Economy #Trade #Petronas #Ron95Petrol #Diesel
https://www.sinardaily.my/article/217153/focus/national/oil-prices-could-soar-to-100-per-barrel-due-to-middle-east-escalation---expert
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The recent escalation in the Middle East, including Iran's retaliation against Israel and Israel's genocide in Gaza, could push global oil prices back to $100 per barrel, according to Universiti Putra Malaysia MBA Director Associate Professor Dr Ahmed Razman Abd Latiff. He noted that current global oil prices are hovering around $90. However, he downplayed the potential impact on the Malaysian economy due to limited trade with the involved countries. Malaysia's main trading partners are China and the US. Razman also acknowledged that higher global oil prices could benefit Petronas due to Malaysia's significant petroleum exports. He assured Malaysians that government-controlled subsidies on RON95 petrol and diesel will shield them from global price fluctuations.
#OilPrices #MiddleEast #Escalation #Malaysia #Economy #Trade #Petronas #Ron95Petrol #Diesel
https://www.sinardaily.my/article/217153/focus/national/oil-prices-could-soar-to-100-per-barrel-due-to-middle-east-escalation---expert