Thailand suspends oil exports amid Middle East tensions
According to the announcement on Sunday, an emergency energy monitoring center has been established to closely track developments in the Middle East and assess potential impacts. Kenya breaking news | Kenya news today |..
✨ Key Highlights
In response to Iran's closure of the Strait of Hormuz amid heightened Middle East tensions, Thailand has ordered an immediate suspension of oil exports and established an emergency energy monitoring center.
- Thailand has reserves sufficient for approximately 38 days of domestic demand (crude oil and refined products).
- The Minister of Energy, Auttapol Rerkpiboon, announced the measures.
- The government plans to boost natural gas production and activate the oil fund to subsidize domestic fuel prices.
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Oil Prices Jump as Conflict Escalates Near Strait of Hormuz - March 2026
Global oil prices surged and stock markets fell as escalating conflict in the Middle East led to attacks on ships near the Strait of Hormuz. Thailand responded by ordering an immediate suspension of oil exports and establishing an emergency energy monitoring center amid heightened tensions. The ongoing Middle East crisis has significantly impacted air travel, with Jomo Kenyatta International Airport experiencing a surge in parked aircraft as Gulf carriers rerouted flights. Tokyo stocks experienced a downturn with the benchmark Nikkei index dropping over 2 percent following joint military strikes by the United States and Israel on Iran. Meanwhile, Kenya's vital tea export sector faces significant uncertainty due to the escalating crisis, disrupting supply chains to key Gulf markets.
