Thailand's energy authorities said the country will maintain its restriction on refined oil exports, despite rising pressure from domestic refineries facing storage constraints, as geopolitical risks continue to cloud global supply outlooks, The Bangkok Post reported Wednesday, citing an anonymous official from the Ministry.
The Energy Ministry said the situation remains volatile due to ongoing tensions involving Iran, Israel and the United States, with risks to petroleum, LNG and chemical flows through the Strait of Hormuz keeping policymakers cautious on easing restrictions, according to the Post.
Thailand first imposed the export ban in March, later allowing limited shipments to Laos and Myanmar and granting exemptions for jet fuel exports to select regional markets, while officials said any broader relaxation will depend on clearer global stability, the newspaper 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.)