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Rising oil prices complicate South Africa’s inflation outlook | SA News

Escalating tensions involving Iran, Israel, and the United States have pushed oil prices sharply higher, exposing fuel-importing economies such as South Africa to a fresh external shock.

Following a series of attacks and counterattacks, shipping through the Strait of Hormuz – the narrow waterway that carries roughly a fifth of global oil supply – has been heavily disrupted, even though the strait remains formally open and many vessels are avoiding the route because of security risks and sharply higher insurance costs.

According to Paul Gooden, head of global natural resources at Ninety One, the disruption has effectively removed a significant share of global supply from the…

Cape Town International Jazz Festival: This annual festival attracts international
and local artists, showcasing a diverse range of jazz music.

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  2. Fun South African Fact: The Cape Floral Kingdom is one of the world’s six floral kingdoms – and the only one which is wholly contained within a single country.