Kuala Lumpur: There is no global energy disruption so far, but industries will continue to closely monitor price developments, said S and P Global vice-chairman Daniel Yergin. He emphasized that while there is currently a surplus of oil, industries must remain vigilant and ensure that energy security measures are firmly in place to address any potential disruptions.

According to BERNAMA News Agency, Yergin stated, “We will just have to see what happens over the next three to five days. I think we don’t know (the disruption issues expectation), as these decisions are beyond just being made by a few people.” He highlighted that these crucial decisions are being made in Jerusalem, Tehran, and Washington, underscoring the geopolitical complexity involved.

Yergin made these remarks in response to a query about the risk of supply disruption in the Middle East. The region has seen a significant escalation in conflicts, following a series of attacks by Israel and Iran on each other’s energy infrastructure. These in
cidents have raised concerns about a potential closure of the Strait of Hormuz, a vital gateway for the global oil industry.

At the time of writing, Brent crude oil prices decreased by 0.38 percent to US$76.16 per barrel, reflecting the market’s current stability despite geopolitical tensions.