Thailand to convene urgent industry meeting on energy risks
Thai manufacturers will meet within 1–2 days to map alternative energy and raw-material supplies as oil tops US$70 a barrel, with PM Anutin set to chair wider talks on March 2, 2026.
- The Federation of Thai Industries (FTI) will hold an emergency meeting within 1–2 days to assess energy risks.
- The meeting aims to identify alternative sources for energy and raw materials due to potential disruptions from geopolitical conflict.
- Concerns are focused on rising global oil prices, which could surpass $100 a barrel, and subsequent increases in shipping and transport costs.
- Thailand's Prime Minister will also chair a separate meeting with government agencies and private-sector bodies to prepare a national response plan.
Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), told Thansettakij that the industrial sector would convene an emergency meeting within 1–2 days to assess risks and identify alternative sources of raw materials or energy, should disruptions arise from the impact of the US–Israel strike on Iran.
“The industrial sector must hold urgent discussions to assess risks and identify measures to cope with the situation. In the event of an energy shortage or disruption, we need to determine what sources can be used as substitutes, what the prices would look like, and how far the situation could escalate.”
He said that if the war escalates, it would affect the wider region.
This is already reflected in the latest global oil prices, which have risen above US$70 a barrel.
If the situation worsens, prices could jump to US$80, US$90, or above US$100, which would fuel global inflation.
Gold prices are also expected to trend higher.
There are forecasts that gold could reach US$6,000 an ounce, or around THB80,000–90,000 per baht-weight of gold, by the end of this year if the situation escalates.
The US dollar is expected to strengthen in the short term.
On logistics and goods, shipping and transport costs will rise, alongside energy shortages and higher-priced goods.
“The key thing to watch is the impact on Thailand. On Monday (March 2), Prime Minister Anutin Charnvirakul will chair a meeting of relevant government agencies and private-sector bodies, such as the FTI, to assess the situation and prepare a response plan.”
