Does your wallet feel lighter than it’s supposed to? If so, you are not hallucinating. The latest energy shock presents a new reality that is hard to ignore. Geopolitical tensions in early 2026 sent Brent crude oil prices skyrocketing above US$100 per barrel and have hovered around this price level. A double-whammy ensues – with an erosion of purchasing power for retirees and an uncertain prospect for income investors’ dividend portfolio.

The Lag: Why the Worst is Only Beginning to Unfold

It’s no secret that Singapore imports almost all its essential resources, from sand for land reclamation to natural gas for power generation. Here’s the hard truth: 95% of the city-state’s electricity is powered by imported natural gas. But wait, are we not talking about rising oil prices? Here’s the thing: natural gas prices are indexed to oil prices but lag it by several months. That’s why, despite oil prices already surging in February this year, the full force of the...