The day's essential Malaysian news, briefed.
Iraq has firmly denied threatening to leave OPEC, clarifying that Baghdad remains committed to the cartel while pursuing a reassessment of its production quotas to align with actual output capacity.
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President Trump has declared a 60-day moratorium on maritime tolls in the Strait of Hormuz, but warned the United States may impose its own fees afterward if no final agreement is reached.
Oil rebounded Friday as peace negotiations between the US and Iran faltered, with Israeli military action in Lebanon fuelling concerns that a fragile Middle East truce may unravel, threatening energy supply gains.
Oil prices fell over 2% following a US-Iran ceasefire agreement that would reopen the Strait of Hormuz and waive sanctions on Tehran's oil exports, signalling a major shift in global energy supply dynamics.