Brent Oil Supply Crisis
Brent crude surges on US-Iran strikes and Russian supply warnings, straining Pakistan's import bill while Malaysia secures fuel supplies through 2026.
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- ALERTBrent crude surges as Russian official warns of historic energy crisis
Kirill Dmitriev predicts record oil prices amid structural supply constraints, fueling volatility in global energy markets.
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- EVENTPakistan's oil import bill hits $16.86bn, breaching IMF forecasts on price surge
Escalating US-Iran tensions drove global crude higher, pushing Pakistan's annual energy spend $1.58bn above IMF projections and straining the balance of payments.
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- EVENTBrent crude jumps 5.9% on US strikes in Iran; Malaysia secures fuel supply through 2026
Fresh military escalation in the Middle East triggered a sharp repricing of oil risk, pushing Brent crude higher. Malaysia’s economy minister confirmed domestic fuel supplies are secured until year-end despite the volatility.
New Straits Times