UNITED STATES – The ongoing attacks on energy infrastructure and commercial vessels in the Middle East have generated concerns about additional disruptions to global oil supplies and maritime traffic. Rising tensions might result in higher energy costs, supply constraints, and increasing inflationary pressure, boosting the possibility of global stagflation. However, oil prices fell on 15 October, following news that the US was considering lifting restrictions on certain Russian oil tankers to enhance shipping availability. Despite the drop, uncertainty about petroleum supplies continues to affect refinery operations, industrial transportation costs, and the competitiveness of re-refined base oils (RRBO).
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(Source: The Star)