Singapore's government is preparing to address concerns regarding the economic impacts of the Middle East conflict, particularly the disruption of the Strait of Hormuz. Prime Minister Lawrence Wong announced on March 28, 2026, that Parliament will receive an update on April 7 concerning contingency plans for Iran-related events and measures to bolster energy and supply chain resilience. The blockage of the Strait of Hormuz, which handles a fifth of global oil supply, has led to soaring oil prices and is threatening inflation, with businesses passing increased costs to consumers. Wong has discussed the crisis with Asian leaders, emphasizing the need for diversified energy supplies and supply chain security amid widespread regional apprehension.