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Fuel Surcharges Remain Elevated as Oil Prices Breach $100 Per Barrel

Oil has climbed above $100 per barrel amid geopolitical tensions in the Middle East, pushing global logistics carriers to maintain aggressive fuel surcharges. Weekly fuel adjustment mechanisms, initially deployed as temporary crisis measures, have now persisted for approximately six months in certain markets and show no signs of abating. Oil prices have gained roughly $50 per barrel over the past year, with November Brent crude trading near $107. Supply threats extend beyond reduced vessel transits through the Strait of Hormuz. Attacks on Saudi Arabia's Abqaiq-Yanbu pipeline and Russian oil export disruptions from Ukrainian operations further constrain global supply. While bunker fuel availability has remained stable, analysts warn reserves are low and could tighten in coming months, potentially sustaining elevated surcharge structures across all transport modes.