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Prime Minister Anwar Ibrahim announced that a second Petronas tanker has obtained permission to transit the Strait of Hormuz and is scheduled to arrive at Melaka port in the coming weeks.
Malaysia's petrol and diesel supplies at Petronas stations will remain stable and adequate through September, meeting half the country's domestic fuel needs, according to government assurances released this week.
The FBM KLCI edged higher as rising crude oil prices following Iranian tanker attacks in the Straits of Hormuz boosted energy sector activity, with PETRONAS Chemicals and major banks leading gains despite broader market caution.
The International Energy Agency has raised its 2026 oil demand forecast to 103.463 million barrels per day while upgrading production projections, signalling modest optimism about energy markets ahead.