Singapore Morning Brief: Fuel Prices Spike and Global Markets Jitter as Middle East Conflict Escalates

Diesel prices in Singapore jumped past $4 per litre at major retailers like Shell, Esso, and Caltex on September 14, marking the first time since late June the benchmark has breached that level. The increases, which ranged from 8 to 12 cents per litre, ended a two-month period of relative stability and were a direct response to escalating conflict in the Middle East that is roiling global energy markets.

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