UNITED STATES – Global oil prices shifted in unexpected directions as hopes of increasing Russian diesel supplies alleviated supply concerns, while ongoing attacks in Saudi Arabia and Yemen continued to shake energy markets. Brent crude dropped 0.9% to USD 105.69 per barrel, while West Texas Intermediate (WTI) increased 0.4% to USD 94.14 per barrel. Continued threats to Middle Eastern energy infrastructure and critical shipping routes have exacerbated fears about potential supply disruptions, keeping oil markets unsettled. These changes could have an impact on refinery operating costs, industrial transportation expenses, and the competitiveness of re-refined base oils (RRBO).
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(Source: The Star)