Image: Lubes'N'GreasesWeekly Americas Base Oil Price Report - Lubes'N'Greases
• Escalating hostilities between the United States and Iran, alongside the renewed closure of the Strait of Hormuz, have disrupted the flow of crude oil and refined products from the Persian Gulf. • These geopolitical tensions have pushed base oil and energy prices to steeper levels due to supply chain instability. • The situation is expected to worsen as Iran-backed Houthi rebels in Yemen threaten to attack shipping companies loading cargoes at Saudi ports on the Red Sea.
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