Singapore Minister Warns Economic Fallout From Iran War

Singapore's Foreign Affairs Minister Vivian Balakrishnan warned the economic fallout from the war in Iran could worsen and markets are yet to factor in the worst-case scenario. In a fireside chat with Bloomberg's Avril Hong at the IMAS Investment Conference in Singapore, he adds that the effective closure of the Strait of Hormuz has disrupted oil and gas shipments to Asia, pushing prices higher and forcing buyers to scramble for alternative supplies.