KUALA LUMPUR (April 14): Analysts see a buying opportunity in Dialog Group Bhd (KL:DIALOG), MISC Bhd (KL:MISC) and Hibiscus Petroleum Bhd (KL:HIBISCS), citing the strength of their primary revenue drivers to bolster high oil prices despite Middle East conflicts.

RHB Investment Bank highlighted in a note that Dialog benefits from the upside of high oil prices, which is underpinned by its core tank terminal and midstream businesses. Meanwhile, MISC is set to benefit from elevated tanker rates as geopolitical friction and supply chain disruptions have squeezed vessel supply, allowing the group to command premium pricing for its fleet.

Oil prices may hit as high as US$140 (RM667.80) to US$150 per barrel if the Middle East war intensifies, RHB added.

The research house raised its 2026 average Brent crude forecast to US$82.50 from US$62 previously, while setting a US$72 target for 2027.

In a separate note, Hong Leong Investment Bank noted Hibiscus as the 'key beneficiary' of elevated energy prices, offering the most direct exposure to Brent crude movements.

According to the firm’s analysis, Hibiscus shares show a strong 77% correlation with oil prices, with every U$10 per barrel increase in Brent potentially boosting its share price by approximately 34 sen.

At the time of writing on Tuesday, the share price of Dialog was unchanged at RM2.28, valuing the company at RM12.9 billion. MISC was down 0.6% at RM8.39, valuing the company at RM37.5 billion, while Hibiscus was down 2.3% at RM2.15 with a market capitalisation of RM1.59 billion.

The conflict in Iran has triggered a global spike in energy costs, driven by widespread strikes on oil and gas infrastructure and a critical blockade of the Strait of Hormuz — which handles roughly 20% of global oil trade.