Prices to fuel and energy are likely to remain high even after hostilities in the Middle East cease, Coordinating Minister for National Security K Shanmugam said on Tuesday (April 7). This is due to the extent of the damage to oil facilities which will take time to repair, he said, adding that the Ministry of Trade and Industry is monitoring the situation closely. More than half of Singapore's crude oil imports come from the Middle East, while nine per cent of natural gas would have been imported from Qatar this year prior to the crisis.«Even if the Strait of Hormuz fully reopens tomorrow, global oil and gas export capacity will not return to pre-conflict levels so quickly.»In the longer-term, we are concerned about broader disruptions to global supply chains affecting goods critical to Singapore's economy and essential services." Shanmugam, who is chair of the Homefront Crisis Ministerial Committee, was speaking in Parliament during a ministerial statement.The committee was convened by Prime Minister Lawrence Wong to coordinate Singapore's response to energy disruptions caused by the Middle East conflict.  Read more