UNITED STATES – Global benchmark crude oil prices rose, with Brent crude topping USD 100 per barrel (USD 99.07/bbl) and US West Texas Intermediate (WTI) surpassing USD 94.05/bbl. The rise was sparked by rising military warfare in the Strait of Hormuz, which included the destruction of five Iranian crude oil containers by US Central Command in response to attempted missile strikes on US Navy vessels, fanning serious supply chain anxieties across global energy markets. As rising upstream oil prices raise imported fuel costs, Malaysian manufacturing and industrial facility operators face rising utility costs, reinforcing the strategic financial incentive to use locally produced, price-stabilized alternative fuels like Re-Refined Base Oil (RRBO) to protect operating margins.
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(Source: Business Today)
