Asia’s oil dependence leaves it exposed after US-Israel strikes on Iran: Morgan Stanley

2026-03-02 - 13:35

Asian countries are heavily reliant on imported oil and gas and could suffer serious economic fallout after the United States and Israel launched strikes on Iran, Morgan Stanley said. The manufacturing-intensive, export-reliant region was “more sensitive” to oil price volatility than Europe or the US, the New York-based investment bank said in a research note on Sunday. Asia’s oil and gas trade deficit stood at 2.1 per cent of gross domestic product, it calculated. Every sustained US$10...