Oil markets have been extremely volatile in recent days as geopolitical tensions in the Middle East raised concerns about a major disruption to global energy supplies.The closure of the Strait of Hormuz - one of the world’s most critical oil shipping routes, has injected fresh uncertainty into global energy markets, prompting policymakers to respond.

The International Energy Agency has agreed to what could be the largest coordinated release of strategic oil reserves in its history, as governments attempt to stabilise supply and calm volatility.

On Industry Insight, Lynlee Foo speaks to  Marc Ostwald, Chief Economist and Global Strategist at ADM Investor Services International, about how markets are interpreting the situation and what the implications could be for the global economy, including Asia and Singapore.