SINGAPORE - For anyone who followed Parliament’s proceedings on April 7, news that the United States and Iran have reached a two-week truce would have been cold comfort.

Setting aside whether vows to reopen the Strait of Hormuz will be taken at face value, damage to the gulf’s oil refineries and LNG facilities mean energy supplies will stay constrained for months to come.

Singapore’s leaders took pains on Tuesday to point out that electricity prices will sharply increase