Market Chatter: Malaysia to Prioritize Australia for Surplus Petronas Fuel Amid US-Iran War

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Malaysia will prioritize supplying Australia with surplus fuel from state energy firm Petronas as part of efforts to strengthen energy security amid disruptions linked to the Middle East war, Reuters reported Thursday, citing Prime Minister Anwar Ibrahim.

Anwar said the arrangement followed discussions with Australian Prime Minister Anthony Albanese, adding that while domestic demand remains the priority, both sides are pursuing "friend-to-friend" negotiations to balance trade in energy and agricultural goods, reportedly.

He also noted that Malaysia is seeking mineral phosphate imports from Australia in exchange for urea exports, 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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