Longer-term impacts from war constrain SETThe Stock Exchange of Thailand saw big swings during March, especially at the beginning of the month, after Israel and the United States started bombing Iran on the last day of February. Iran's closure of the Strait of Hormuz sent oil prices surging nearly 40% to triple-digit levels in the first week of the conflict. The SET was supported by the energy sector as a beneficiary from high oil prices, while banking stocks were defensive yield plays in light of the uncertainty about the war's duration. High oil prices have increased the overall cost of living for everyone, and inflation rates are poised to rise accordingly. PTTEP will enjoy the benefit of high prices starting from the second quarter of 2026 onward, with upside to its earnings for the year.

Source: Bangkok Post April 11, 2026 01:50 UTC