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The ringgit ended slightly lower against the dollar on July 24, trading within a narrow band of 4.0890 to 4.0977. The Ministry of Investment, Trade and Industry said a 10% forced-labour-related US tariff on Malaysian exports took effect that day, replacing a temporary Section 122 tariff.
Crude oil rose on renewed US-Iran escalation.
A new US tariff on Malaysian exports can hit regional trade flows and sentiment, and it adds to dollar demand. Higher oil prices feed through to fuel and freight costs for feed importers.
thestar.com.myThe Star OnlineJul 24, 2026Not enough comparable past events yet for a historical read.
After 36 past bullish trade events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (69% higher; middle half -2.0% to +4.5%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
