Middle East Turmoil Sends Malaysian Energy Stocks Soaring
Malaysian energy stocks surged on September 1st in response to escalating turmoil in the Middle East, which is expected to push oil prices higher. The Bursa Malaysia Energy Index rose by 1.25% to 788.14 as trading began.
Hengyuan Refining Company Bhd led the gains with a 21.54% increase to RM2.37 per share, while Hibiscus Petroleum Bhd and MISC Bhd also saw significant rises of 3.41% and 1.01%, respectively. Petronas Dagangan Bhd added 0.89% to RM20.48.
The upswing is attributed to concerns over prolonged Middle East supply disruptions, which have kept the outlook for crude oil prices elevated. TA Securities has raised its Brent crude forecast to US$90 per barrel for 2026 and warns that prices could exceed US$100 under more severe escalation scenarios.