UNITED STATES – Global oil benchmarks rose by more than 6%, with Brent crude up USD 6.42 to USD 107.63 per barrel and US West Texas Intermediate (WTI) surpassing USD 102.48/bbl. The dramatic price increase comes after Houthi troops seized control of Yemen’s vital Red Sea port of Mokha, near the strategically important Bab Al-Mandeb Strait, compounding current naval blockades in the Strait of Hormuz and exposing oil markets to unprecedented supply disruption risks and shipping surcharges. As rising global crude benchmarks directly push up prices for imported virgin fuels and lubricants across Southeast Asia, Malaysian manufacturing facilities and heavy industrial operators face escalating operating costs, underscoring the commercial necessity of incorporating locally recovered, price-stable alternatives like Recycled Fuel Oil (RFO) and Re-Refined Base Oil.
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(Source: The Star)
