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Oil prices slipped on Tuesday after U.S. President Donald Trump said he had delayed a planned military strike on Iran following requests from key Middle Eastern leaders, easing concerns over an immediate escalation that could put global crude supplies in greater jeopardy.

Trump said on Monday that he had put on hold a “scheduled attack of Iran tomorrow” after appeals from the leaders of Qatar, Saudi Arabia and the United Arab Emirates. Earlier in the day, Trump told the New York Post that Iran knows “what’s going to be happening soon,” though he did not provide further details.

Crude oil price on May 19

International benchmark Brent crude futures for July delivery dropped more than 2% to $109.15 a barrel, while West Texas Intermediate futures fell 1.27% to $107.28 a barrel. Axios had earlier reported that Trump was considering renewed military action after Tehran’s latest proposal in negotiations aimed at ending the conflict failed to meet expectations.

Prior to his remarks on Truth Social, there had been little public indication that Washington was preparing imminent military action against Iran, a move that would likely have ended the fragile ceasefire reached on April 8.
Speaking later at a White House event, Trump said, “we were getting ready to do a very major attack tomorrow.” “I put it off for a little while, hopefully maybe forever, but possibly for a little while,” he said, adding that “we’ve had very big discussions with Iran, and we’ll see what they amount to.”
Tensions between Washington and Tehran have flared up once again and, while the ceasefire technically remains intact, expectations of a quick reopening of Hormuz have weakened considerably.

What are experts saying?

Analysts at Morgan Stanley said the oil market is in “a race against time,” warning that the factors keeping crude prices from rising further may fade if the Strait of Hormuz remains shut into June.

Despite disruptions impacting nearly 1 billion barrels of oil supply, crude prices remain below the highs seen in 2022 after Russia’s invasion of Ukraine. Analysts led by Martijn Rats said the market entered the current crisis with stronger supply buffers, while investors continue to expect that the strait will eventually reopen.

Morgan Stanley also said higher U.S. crude exports and softer Chinese imports have helped cushion the market from a deeper supply shock so far. However, the brokerage warned that a prolonged closure of Hormuz could once again tighten global supplies if disruptions continue beyond what China or the United States can absorb comfortably.
Haitong Futures said markets remain cautious and warned that the ceasefire may not hold for long. The brokerage added that stalled negotiations between Washington and Tehran could trigger another round of escalation and push oil prices even higher.

Saudi Aramco CEO Amin Nasser said earlier this month that disruptions to shipments through Hormuz could delay stability returning to oil markets until 2027, with around 100 million barrels of oil supply per week potentially affected.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Thailand leads Southeast Asia in NEV readiness, with 58% of consumers considering hybrid/electric vehicles. Infrastructure gaps, high brand-switching behaviour, and strong dealer trust characterise the market. Growing demand exists for connected vehicle technologies, with relatively low data-sharing concerns among Thai consumers.

Key Points

• Thailand leads Southeast Asia in NEV readiness, with 58% of consumers considering hybrid or electric vehicles, driven by lower fuel costs and charging infrastructure, though a gap exists as 75% expect home charging but only 36% have access.

• Brand switching is high, with 64% planning to change brands for their next purchase, yet trust in authorised dealers remains dominant, with 81% using them for servicing and limited interest in direct-to-consumer models.

• Connected vehicle technology demand is growing, with 67% interested in AI customisation and strong willingness to pay for services like anti-theft tracking, while Thai consumers show relatively low concern about data sharing compared to regional peers.

Thailand Leads Southeast Asia in NEV Readiness

Consumer Demand and Infrastructure Gaps

Thailand is emerging as Southeast Asia’s most NEV-ready market, with 58% of consumers considering hybrid or electric vehicles — significantly above the regional average of 42.8%. Key purchase motivators include lower fuel costs, charging availability, and longer driving range. However, a critical infrastructure gap remains: while 75% of prospective EV buyers expect home charging, only 36% currently have access. Thai consumers also prioritize affordable public charging, with 76% citing cost as a key factor, underscoring the urgent need for ecosystem-level solutions involving energy providers, developers, and urban planners.

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Brand Switching Reshapes a Competitive Market

High Switching Rates, Strong Dealer Loyalty

Thailand’s automotive market is increasingly competitive, with 38% of consumers having already switched brands and 64% intending to switch for their next purchase. Purchase decisions are driven by product quality, technology, and performance rather than brand loyalty alone. Despite this fluidity, trust in authorised dealers remains exceptionally strong, with 81% of respondents — the highest in Southeast Asia — choosing authorised service providers. Notably, only 53% expressed openness to direct-to-consumer online purchasing, the lowest regionally, highlighting the continued importance of established dealership relationships in shaping consumer confidence.

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Connected Technologies Define Thailand’s Automotive Future

Digital Adoption with Measured Data Concerns

Thai consumers are rapidly embracing connected vehicle technologies, with 67% interested in AI-enabled customisation features. Willingness to pay extends to services such as anti-theft tracking (84%), emergency assistance (80%), and usage-based insurance (74%). Importantly, Thai consumers demonstrate relatively lower concern about data sharing compared to regional peers — a factor that may accelerate digital adoption. As the market evolves, automotive players must integrate technology, trust-based relationships, and seamless ownership experiences to successfully navigate Thailand’s next phase of transformation and capture long-term consumer loyalty.

Other People are Reading

As the 2026 FIFA World Cup creeps closer, fans across the world are expected to be watching one of the game’s most iconic players. 

And Lowe’s is making sure Lionel Messi remains front and center during this year’s tournament. 

Messi, the eight-time Ballon d’Or winner, is expected to be in contention for Argentina’s 2026 World Cup squad as the defending champions look to repeat.

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This is confirmed to be Messi’s final World Cup, as the 38-year-old, who also stars for Inter Miami CF in MLS, confirmed that to be the case leading up to the tournament. 

But while fans anticipate watching Messi, Lowe’s collaborated with the soccer legend on a new campaign ahead of the World Cup. And it involves a 10-foot-tall lighted outdoor inflatable version of Messi.

MILLER LITE CELEBRATES 2026 FIFA WORLD CUP FANS WITH A LIMITED-EDITION MATCHBALL THAT HOLDS A 12-PACK

Lowe’s is rewarding its MyLowe’s Rewards and My Lowe’s Pro Rewards members with “Epically More Messi,” a new campaign designed to bring the brand’s most loyal fans closer to the game and to the person many consider to be one of the greatest players of all time.

To do so, Lowe’s released a limited-edition, 10-foot inflatable Messi, who is decked out in a Lowe’s soccer kit and even features details like his tattoos. Talk about a larger-than-life way to show off passion for the game and one of its greats. 

“Soccer fandom is rooted in passion, pride and showing up in an EPIC way,” said Jen Wilson, Lowe’s senior vice president and chief marketing officer, in a press release. “With ‘Epically More Messi,’ we’re creating new ways to bring our most passionate and loyal Lowe’s fans more rewards – in this case, access to limited-edition merchandise, epic Messi drops over social and more.”

The inflatable, which goes for $99, can be purchased through a members-only access experience beginning on May 18 on Lowe’s site. It will also be available across the 11 U.S. host cities starting on May 20. 

The Messi inflatable has already been seen across host sites in Atlanta (Piedmont Park), Dallas (Klyde Warren Park), Miami (Nu Stadium at Miami Freedom Park) and New York (Seaport District). 

Lowe’s is also giving their members the chance to engage with exclusive content as well as Messi giveaways for the World Cup. There will also be a social-first fan experience that will appear, featuring Messi, soccer insider Fabrizio Romano and ESPN personality Katie Feeney. 

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Finally, Lowe’s brought back the father-son broadcasting duo of Andres and Nico Cantor as official campaign partners. 

“Soccer fandom in the U.S. is at an all-time high, and a legend like Lionel Messi can bring communities together in powerful ways,” said soccer broadcasting icon Andres Cantor. “With ‘Epically More Messi,’ Lowe’s is creating experiences that meet fans where they are – at home and at their neighborhood fields where many soccer dreams begin.”

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