As oil prices soared to more than $100 a barrel this week, what will the economic consequences of the war in the Middle East be for African countries? Which sectors are most at risk? RFI spoke to Guinea-Bissau economist Carlos Lopes, former executive secretary of the United Nations Economic Commission for Africa and now a…
There is anxiety that Nigerians may continue to pay more for Premium Motor Spirit, PMS, also known as petrol alongside Automotive Gas Oil, called diesel as the price of crude oil rose to above $100 per barrel, yesterday. Many Nigerians had looked forward to lower fuel energy cost, following a drop on Wednesday to $92,…
Shipping companies, freight forwarders and other port users have raised concerns over the potential impact of the ongoing crisis in the Middle East on cargo throughput into Nigerian ports. They warned that the situation could also worsen Nigeria’s inflation if the conflict in the region persists. Speaking with Vanguard on the development, Chairman of the…
A shipping source says Engen cut back on fuel supplies to Gqeberha and Durban because of the Middle East conflict disrupting shipping routes. Big fuel price increases are expected in April 2026, with petrol going up by R2.78 and diesel by R5.03 per litre. Three local fuel retailer owners from different franchises say they have…
The recent escalation in the Middle East has reintroduced a geopolitical risk premium into global markets, as investors price in the chance of supply disruptions and wider regional instability. For South Africa, the transmission channel is primarily through oil prices rather than direct trade exposure, since the country is not a major direct exporter to the Gulf…
The escalating crisis in the Middle East is no longer a distant geopolitical drama for Africa; it is an economic tremor felt from the ports of Lagos to the markets of Nairobi. For a continent already navigating debt pressures, inflation and currency volatility, instability in a region central to global energy and trade flows could…
Smoke rises from the site of airstrikes in a central area of the Iranian capital Tehran on March 6, 2026. Atta Kenare | Afp | Getty Images The U.S. government on Monday ordered non-emergency government employees to leave Saudi Arabia as the war engulfing Iran widened across the Middle East, pushing oil prices above $110…
As tensions escalate again across the Middle East, global oil markets are entering another period of uncertainty. Even the threat of disruptions to tanker routes or energy infrastructure in the region can send crude prices sharply higher. Much of the world’s oil still moves through the strategic maritime chokepoint of the Strait of Hormuz. Any…
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Nairobi — The Embassy of Israel in Kenya has warned that Iran’s ballistic missile capabilities extend far beyond Israel’s borders, with ranges that could reach large parts of the Middle East, sections of Europe, and parts of Africa. In a statement issued Tuesday, the embassy said discussions about missile ranges should not be viewed as…
