Thailand’s SET Index closed at 1,442.92 points, decreased 14.99 points or 1.03%, with a trading value of THB 65.31 billion. The analyst stated that the Thai market retreated after having sharply surged yesterday along with the Asian markets trend, due to uncertainty over the U.S.-Iran peace negotiation. Additionally, the rebound in global oil prices, and the THB 6 surge of domestic retail oil prices has also weighted the market sentiment.
The analyst expects the Thai market to move sideways within range tomorrow.
Thailand’s special Cabinet meeting approved seven measures to alleviate the impact of the oil situation as proposed by the Ministry of Finance.
The measures include excise tax cuts and a THB 1.3 billion welfare card top-up. Additional support targets farmers through fertilizer subsidies, the fishery sector via B20 oil, and SMEs with a THB 10 billion soft loan fund for working capital.
Iran has issued warnings that it may shut access to the Bab al-Mandeb Strait, a vital international shipping lane, should the United States move forward with a ground assault on Kharg Island. This escalation comes as the island remains essential to Iran’s oil sector, handling the vast majority of the nation’s crude export operations.
Six Arab nations have issued a sweeping joint statement condemning what they describe as blatant Iranian aggression against countries in the region, invoking their right to self-defense under international law.
The statement explicitly references United Nations Security Council Resolution 2817 (2026), which demands that Iran immediately and unconditionally cease all attacks and threats against neighboring states, including those conducted through proxies — a resolution the signatories say Iran has openly defied.
