Energy price spike threatens global economic recoveryGlobal oil prices have entered a “danger zone” after surging to around US$110 per barrel following reports that an Iranian oil storage facility had been struck, warned Bangkok Bank’s (BBL) chief economist. “Global oil prices have now entered ‘Code Red’ territory — a level that could have serious consequences for the global economy if prices do not ease soon,” Mr Kobsak noted. Domestic fuel prices surged, forcing the government to intervene heavily to stabilise them, resulting in a fiscal burden tallying hundreds of billions of baht. Thai inflation in 2026 is expected to rise to around 1.5%, returning to the Bank of Thailand’s target range of 1-3% sooner due to higher global energy prices. However, if the conflict escalates into a broader regional war, inflation could climb above 4%.

Source: Bangkok Post March 09, 2026 15:05 UTC