Hormuz Crisis Impacts Asian Energy

The ongoing conflict in the Middle East has triggered a severe energy crunch across Asia, with the Strait of Hormuz remaining a primary bottleneck.

Malaysia's economy minister warned of a 'critical period' for fuel by June, while Australia and Singapore have struck a mutual supply deal to mitigate shortages.

Physical oil prices have surged to record levels as traders scramble for prompt deliveries, forcing some refiners to consider scaling back operations.

The crisis is accelerating the region's shift toward renewable energy as nations seek to reduce their vulnerability to global supply shocks.