Africa: Oil Price Surge Is Hurting African Economies – Scholars in Ethiopia, Kenya, Nigeria, Senegal and South Africa Take Stock

[The Conversation Africa] The attacks by the US and Israel on Iran, which started on 28 February 2026, upended key supply chains, driving oil prices above US$100 a barrel. The spike followed Iran's closure of the Strait of Hormuz in response to the US and Israeli action. About 20% of the world's oil supplies are transported through the strait.

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