UNITED STATES – Oil prices extended gains on Tuesday, with Brent crude futures surging past USD 97 per barrel and U.S. West Texas Intermediate (WTI) reaching USD 92.63 per barrel as risks of a prolonged Middle East conflict intensified. Energy traders are pricing in heightened geopolitical risk premiums after Iran threatened to retaliate against U.S. assets in the Persian Gulf following weekend military strikes near strategic shipping lanes, renewing fears that Persian Gulf energy throughput will remain constrained through late 2026. As soaring global oil prices push up imported fuel overhead, Malaysian manufacturing and plant operators face mounting utility costs, reinforcing the financial incentive to adopt localized, price-stable alternative fuels like Recycled Fuel Oil (RFO) to shield operating margins.
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(Source: The Star)
