Impact of oil price surge on regional economies manageable: Analysts

A mural showing the Iranian flag in Teheran yesterday. On Monday, the White House said it would end the six-month sanction waiver for all buyers of Iranian crude from May 1.
A mural showing the Iranian flag in Teheran yesterday. On Monday, the White House said it would end the six-month sanction waiver for all buyers of Iranian crude from May 1.PHOTO: AGENCE FRANCE-PRESSE

Current prices similar to or slightly lower than those in same period a year ago, they say

Oil prices surged to six-month highs yesterday after the United States ended its waiver for all buyers of Iranian crude, but analysts said the impact on regional economies will be "manageable".

Yet it did not stop China, the world's largest importer of oil, from warning that the US decision will "intensify turmoil" in the Middle East and the international energy market.

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A version of this article appeared in the print edition of The Straits Times on April 24, 2019, with the headline 'Analysts: Impact of oil price surge on regional economies manageable'. Print Edition | Subscribe