Iran strikes gulf oil, gas sites as war jolts energy markets, what cost for South Africa?
As tensions continue in the Middle East, the economic fallout is being felt far beyond the region.
Summary
Recent strikes on oil and gas sites in the Gulf, attributed to escalating tensions between the US, Israel, and Iran, are causing notable disruptions in global energy supply chains.
South African officials have raised concerns regarding the potential economic fallout, emphasizing that rising oil and gas prices could strain local industries and consumers.
The situation necessitates a reassessment of energy strategies and infrastructure resilience in South Africa to mitigate the impacts of fluctuating global energy prices.
Updates
Update at 04:53 UTC on 2026-03-24
Reuters Energy reported US to continue Iran strikes, pause applies only to energy sites, Semafor reports Reuters.
Sources: Reuters Energy