Fresh attack on UAE oil vessel raises fuel supply risks for import-dependent African economies - Business Insider Africa
Fresh attack on UAE oil vessel raises fuel supply risks for import-dependent African economies - Business Insider Africa
Source: Business Insider Africa
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DW NOTE
The Hormuz closure has cut 20% of global oil supply for 167 days. African importers — most with zero refining capacity and hard-currency reserves measured in weeks — now face attacks on the alternative supply routes they've been forced to use. Brent at $88 isn't relief when your previous contract was priced at $65 and payable in dollars you no longer have.