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Thailand Secures Hormuz Shipping Assurance Amid Fuel Jitters

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Thailand Secures Hormuz Shipping Assurance Amid Fuel Jitters

Thailand says it has reached an agreement with Iran to help Thai oil tankers pass safely through the Strait of Hormuz as officials respond to continuing energy market disruption. Prime Minister Anutin Charnvirakul said the arrangement is meant to reduce concerns over shortages and speed up some shipments into the country. He also said domestic fuel supplies remain sufficient, while acknowledging recent price swings and admitting the government initially underestimated how long the crisis would last. Authorities say conditions at some petrol stations have already started to improve after boosting deliveries, releasing reserves, and cracking down on hoarding. The government has also ended the full fuel price cap, arguing that it had encouraged stockpiling and smuggling while increasing pressure on the Oil Fund.

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