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In Charts: Singapore's Energy and Chemicals Sector in Focus as Middle East Conflict Escalates
Summary by Business Times
2 Articles
2 Articles
How Singapore’s refineries & bunkers stabilise oil prices during a conflict in the Middle East
SINGAPORE: Oil prices surged above US$110 (S$141) per barrel on Monday (March 9) as the war in the Middle East disrupted shipments through the Strait of Hormuz — a narrow but vital waterway through which nearly one-fifth of the world’s oil normally passes. The disruption has raised fears of a major supply shock, particularly in Asia, which relies heavily on crude oil from the Gulf. Nearly 60% of the region’s oil imports come from the Middle East…
·Singapore
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