UNITED STATES – Global oil benchmarks surpassed USD 100 per barrel, with Brent crude rising 3.4% to close at USD 101.21/bbl and US West Texas Intermediate (WTI) reaching USD 96.05/bbl. The strong price surge comes in the wake of intensifying US-Iran naval conflicts in the Persian Gulf, where maritime transportation via the Strait of Hormuz is virtually shut down, raising serious market concerns about protracted energy inflation and international diesel shortages. As rising crude oil prices directly inflate imported refined fuel and lubricant overhead, Malaysian industrial facilities and factory managers face rising utility costs, reinforcing the commercial incentive to use localised, price-stable alternatives like Recycled Fuel Oil (RFO) and Re-Refined Base Oil (RRBO) to protect operating margins.
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(Source: The Star)
