UNITED STATES – Global oil benchmarks rose by more than USD 3 per barrel at market open, with Brent crude increasing 3.46% to USD 108.23 per barrel and US West Texas Intermediate (WTI) jumping 3.15% to USD 103.20 per barrel. The steep price increase comes after additional strikes on Saudi oil facilities and increased attacks on commercial shipping vessels traversing the Strait of Hormuz, exacerbating maritime transit bottleneck dangers. As rising crude benchmarks directly inflate virgin fuel and lubricant import costs across Southeast Asian supply chains, Malaysian industrial plant operators and factory managers face immediate utility surcharges and higher operational overhead, emphasising the commercial importance of adopting locally recovered, 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)