Daily brief
Fuel prices in Thailand have jumped 22% after the government slashed subsidies, pushing the fishery sector close to a shutdown. The special Cabinet has approved a seven-step oil crisis relief plan. Meanwhile, the Interior Ministry has ordered nationwide petrol-station checks and daily stock reports to deter fuel hoarding.
The Philippines, which declared a national energy emergency yesterday, has suspended electricity spot market trading due to the Iran war and received a shipment of Russian oil.
Singapore's gasoline prices have dropped for the first time in almost three weeks, while Malaysia plans to cut its subsidised fuel quota.
Lynas plans a rare earth metal plant in Vietnam in partnership with LS Cable & System.
Iran's Foreign Minister announced the Hormuz route has been opened for India.