Africa could face a fresh surge in fuel prices following attacks on commercial vessels near the Strait of Hormuz, a critical maritime corridor that carries about 20 percent of the world’s oil and gas supply.
The incidents come amid escalating tensions involving Iran, the United States and Israel, raising fears of supply disruptions and renewed volatility in global energy markets.
International shipping has almost come to a standstill at the entrance to the Strait of Hormuz, with analysts warning that a prolonged conflict could push energy prices even higher.
According to the United Kingdom Maritime Trade Operations (UKMTO), at least three commercial vessels were attacked near the strategic waterway. Two ships were struck by unidentified projectiles, triggering fires, while another projectile reportedly exploded close to a third vessel. Authorities said all crew members are safe.
Iran has warned ships against transiting the strait, prompting several vessels to anchor in nearby waters rather than risk passage.
The disruption has already rattled global oil markets. In early Asian trading on Monday, crude prices briefly surged more than 10 percent before easing slightly.
By 02:00 GMT, Brent crude was trading more than 4 percent higher at $76.16 per barrel, while West Texas Intermediate rose about 4 percent to $69.67.
For many African economies that rely heavily on imported fuel, the spike could translate into higher pump prices, increased transport costs and renewed pressure on inflation.
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