Global oil markets are currently experiencing significant volatility following the escalation of conflict in the Middle East. Recent military activity involving Iran and regional powers has disrupted production, refining, and key energy infrastructure, creating heightened uncertainty in global supply chains.
Energy markets have responded sharply. Brent crude has risen substantially in recent trading, while refined fuel products have recorded some of their largest day-on-day increases since 2022. Compared to last week’s wholesale benchmarks, Diesel prices have increased by approximately 24% and will continue to rise over the coming weeks.
The flow-on effect of these disruptions has been most pronounced in refined product markets, particularly in import-dependent regions such as Australia. As a result, landed fuel costs have risen sharply over the past several days.
Despite this volatility, we want to reassure our customers that our supply chain remains secure. Operations remain usual.
Given the evolving nature of the situation, We are closely monitoring developments and will continue to keep you informed of any changes that may impact pricing or supply.
Thank you for your continued partnership and understanding during this period of market uncertainty.
Kind regards,
Melissa Riley
Operations Manager
