The Malaysian government expects global energy markets to start stabilising in the third quarter this year but remains subject to geopolitical developments, according to Economy Minister Akmal Nasrullah Mohd Nasir.
Benchmark Brent crude oil has moderated to pre-West Asia conflict levels but risks have yet to fully subside, Akmal Nasrullah said in his briefing to MPs on the global supply crisis.
“Based on international developments, the energy market is expected to begin stabilising gradually from the third quarter of 2026,” the minister said in Dewan Rakyat on Monday.
“This remains subject to geopolitical stability and the resumption of smooth trade routes. Uncertainty in energy prices and supply is expected to continue influencing the market for another one to two years,” he added.
Energy prices had been on a decline after the US and Iran inked a memorandum of understanding in mid-June that installed an interim ceasefire and paved the way for formal peace talks.
Akmal Nasrullah underlined that Brent stood at US$70.67 per barrel on June 26.
During the conflict, it hit a peak of US$144.50 per barrel on April 7, compared to a pre-war level of between US$70 and US$80.
Nonetheless, the situation in West Asia remains volatile. Over the weekend, tensions have again flared between the US and Iran, threatening the ceasefire and peace negotiations.
The two countries have resumed exchanging airstrikes and both have accused the other of violating the ceasefire.
Brent has picked up 0.71% to US$72.50 per barrel at the time of writing.
In Malaysia, the government’s four-pronged intervention — ensuring availability of essential goods, extending existing supplies, securing critical industrial inputs and building long-term economic resilience — remains unchanged, Akmal Nasrullah said.
Source: TheEdge
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
