KUALA LUMPUR: The ceasefire agreement in West Asia between the United States and Iran is unlikely to bring immediate relief to global oil and gas markets, as extensive damage to energy infrastructure is expected to take years to repair, analysts say. The prolonged recovery timeline is set to keep global energy markets in a state of uncertainty, sustaining a high risk premium on oil prices for an extended period. He said the use of strategic routes such as the Strait of Hormuz as instruments of geopolitical pressure highlights the vulnerability of global energy supply chains. He said higher oil prices are likely to feed into inflation, particularly through logistics and food costs. Meanwhile, National Chamber of Commerce and Industry of Malaysia (NCCIM) vice-president Datuk Dr A.T. Kumararajah said prolonged high oil prices could have fiscal implications.

Source: The Star April 08, 2026 23:36 UTC