Oil prices rally on Hormuz talks but will Asia’s energy woes ease?

About this episode

The episode discusses the impact of potential agreements between the US and Iran on oil prices and the ongoing energy challenges faced by Asian economies.

Oil prices have eased sharply on hopes that the US and Iran will agree to reopen the Strait of Hormuz, but analysts say Asian economies are unlikely to quickly shake off the effects of the energy shock even if the key waterway returns to normal. Benchmark Brent crude oil fell 11.15 per cent to US$92.13 per barrel on Friday, from its level a week earlier, its steepest weekly drop since early April. Prices edged up again on Monday, trading at about US$93 per barrel during Asian afternoon trading...

Topics covered

• oil prices
• energy crisis
• Asian economies
• Strait of Hormuz
• market analysis

Keywords

• oil prices
• Strait of Hormuz
• Brent crude
• energy shock
• Asian economies

Mentioned in this episode

Organizations: US, Iran

Products: Brent crude oil

Places: Strait of Hormuz

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