Asia More Exposed to Longer Period of High Oil Prices -- Market Talk

Dow Jones03-23

0308 GMT - Asia's reliance on imported energy leaves it more exposed to a longer period of higher oil prices, compared with other regions, Capital Economics' Gareth Leather writes in a note. About 80%-90% of energy flows transiting the Strait of Hormuz have historically been headed for Asian markets. Asia has already seen higher crude and refined products prices, with the Singapore diesel benchmark up around 140% since the start of the war, he says. Sri Lanka, the Philippines and Pakistan will be hit the hardest, as they are heavily dependent on imported energy from the Middle East and have limited fiscal space to cushion the shock.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

March 22, 2026 23:08 ET (03:08 GMT)

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