Geopolitical tensions could intensify ahead of the US midterm election cycle, says Mr Boontham, suggesting a conflict window may last 3-4 months before easing. A closure could trigger a severe oil supply shock, affecting both energy prices and supply," said Mr Boontham. OUTLOOK FOR EQUITIESSuwat Wattanapornprom, head of research at Krungsri Securities (KSS), said the Thai stock market has partially priced in geopolitical risks, with the index falling 12.6%, compared with the typical 8-9% decline seen during wars. Energy producers and refiners stand to benefit from higher oil prices, particularly PTT Exploration and Production, while petrochemical producers relying on domestic gas feedstock, such as PTT Global Chemical, could remain relatively resilient. Investors should monitor developments between Iran and Israel as geopolitical tensions continue to shape global financial markets, he said.

Source: Bangkok Post March 10, 2026 18:27 UTC