Financial Wire

Market Chatter: Malaysian PM Refutes Allegations of Supplying Fuel to Philippines

-- Malaysian Prime Minister Anwar Ibrahim sought to clarify reports on diesel shipments to the Philippines, saying Malaysia is not directly supplying the fuel, Bloomberg News reported Monday.

He said the cargo is being handled under commercial arrangements by Vitol Group, not by state energy firm Petroliam Nasional (PETRONAS). The clarification comes amid heightened sensitivity over fuel supplies as countries grapple with rising energy costs linked to the Middle East conflict, according to the report.

Malaysia is facing mounting pressure to manage fuel subsidies and contain living costs as oil prices climb. The government has maintained that ensuring sufficient domestic fuel supply remains its priority, the news outlet said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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