Singapore: Energy buffers seen limiting near‑term risks – MUFG

MUFG’s Senior Currency Analyst Lloyd Chan argues Singapore’s energy system and fiscal strength materially limit near‑term tail risks from Middle East tensions. MUFG’s Senior Currency Analyst Lloyd Chan argues Singapore’s energy system and fiscal strength materially limit near‑term tail risks from Middle East tensions. The city‑state benefits from deep infrastructure, diversified sourcing, large inventories and untapped fuel reserves… MUFG’s Senior Currency Analyst Lloyd Chan argues Singapore’s energy system and fiscal strength materially limit near‑term tail risks from Middle East tensions. MUFG’s Senior Currency Analyst Lloyd Chan argues Singapore’s energy system and fiscal strength materially limit near‑term tail risks from Middle East tensions. The city‑state benefits from deep infrastructure, diversified sourcing, large inventories and untapped fuel reserves, plus the ability to switch fuels and expand reserves. Strong public finances allow further stockpiling and targeted support if disruptions through Strait of Hormuz persist.Infrastructure and fiscal space support resilience"Singapore’s energy resilience materially limits… For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.