Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour stated today that while the global "supply shock" is driving oil prices higher, Malaysia is entering this period of uncertainty from a position of strength. In a televised interview, he noted that oil prices could remain "higher for longer" due to the ongoing Middle East conflict, even if the situation begins to de-escalate in the coming weeks. 

The central bank is closely monitoring the impact of elevated energy costs on national inflation and overall economic growth. Currently, Brent crude is trading near US$98.50 per barrel, representing a 32% increase since the end of 2025. This surge is largely attributed to the blockade of the Strait of Hormuz, a critical waterway for approximately one fifth of the world's oil and gas supply. 

Despite these external pressures, the Governor remains confident in the resilience of the Malaysian economy. The central bank is working to balance price stability with growth targets as the nation navigates these global headwinds. Investors are keeping a close eye on the Ringgit's performance as the market awaits further updates on the official first quarter GDP estimates later today.