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Philippine, Thai Earnings Southeast Asia’s Worst Hit by Iran War

Philippine, Thai Earnings Southeast Asia’s Worst Hit by Iran War
Bloomberg Markets Thursday 18 June 2026, 23:00 UTC 1 min read
Key Points

Philippine, Thai Earnings Southeast Asia’s Worst Hit by Iran War Philippine and Thai companies are bearing the brunt of earnings downgrades across Southeast Asia, as their economies rely heavily oil and gas choked off by the closure of the Strait of Hormuz. More than 90% of the Philippines’ oil imports come from the Middle East, while for Thailand that’s about 60%, according to Maybank research. Unlike commodity exporters such as Indonesia, that leaves limited buffers against higher oil prices.

Philippine, Thai Earnings Southeast Asia’s Worst Hit by Iran War Philippine and Thai companies are bearing the brunt of earnings downgrades across Southeast Asia, as their economies rely heavily oil and gas choked off by the closure of the Strait of Hormuz. More than 90% of the Philippines’ oil imports come from the Middle East, while for Thailand that’s about 60%, according to Maybank research. Unlike commodity exporters such as Indonesia, that leaves limited buffers against higher oil prices. [Image text:] RP-C8763 FLAMMABLE
Philippine (ORG) Thai Earnings Southeast Asia’s (ORG) Iran (LOCATION) Iran War Philippine (EVENT) Thai (ORG) Southeast Asia (LOCATION) the Strait of Hormuz (LOCATION) Philippines (LOCATION) the Middle East (LOCATION) Thailand (LOCATION) Maybank (ORG) Indonesia (LOCATION)
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