💨 Abstract
A fragile ceasefire between the U.S. and Iran has temporarily stabilized global oil markets, but uncertainty persists. Earlier, oil prices spiked due to conflict fears, but they eased after the ceasefire news. However, the situation remains fragile, with potential disruptions to shipping through the Strait of Hormuz. South Africa, heavily reliant on fuel imports, faces uncertain fuel prices due to global oil price fluctuations and exchange rate movements.
Courtesy: Garrin Lambley