Africa
A two hour wait for fuel: Kinshasa feels first effects of Middle East war
Long lines of motorcycles and cars were growing in front of petrol stations in Kinshasa this week, with fear of shortages and price hikes, as the capital of the Democratic Republic of Congo began to feel the effects of Iran’s blockade of the Strait of Hormuz.
Cars, motorcycles and small trucks were waiting for hours to fill up their tanks at a petrol station in Kinshasa this week.
The waiting times at the pump easily surpassed two hours for some drivers.
Those who rely on their motorcycles or cars for work, such as taxi drivers, could not contain their worry.
“There’s no way to transport because there is no fuel, how are we going to do it?” said one motorcycle taxi driver.
Kinshasa’s fuel shortage is one of the first effects of the war in the Middle East on the Democratic Republic of Congo. The Strait of Hormuz, a narrow shipping passage on Iran’s coastline through which 20% of the world’s oil shipments transit, is more or less closed due to the hostilities.
Although some countries’ vessels, among them China, are allowed to transit, many have refrained from doing so out of fear of missile attacks from Iran.
The situation has considerably slowed down oil and fuel deliveries to countries around the world, plunging many into a state of energy crisis.
On Tuesday, Iran reportedly said that “non-hostile vessels” can transit the Strait of Hormuz if they meet safety and security regulations in coordination with the relevant authorities, according to the International Maritime Organization (IMO).
In a statement, Iran insisted that “vessels, equipment and any assets belonging to the aggressor parties – namely the United States and the Israeli regime – as well as other participants in the aggression do not qualify for innocent or non-hostile passage”.
Oil drops on hope of de-escalation
Crude oil prices tumbled in Wednesday trading on hopes of de-escalation after US President Donald Trump voiced optimism about ending the nearly month-old war and Iran indicated ships from countries not party to the conflict could pass through the Strait of Hormuz.
After rising in Europe and the United States on Tuesday, Brent crude was down 4.3 percent at $95.90 a barrel and West Texas Intermediate was down 3.8 percent at $88.86.
The closure of the Strait of Hormuz in the Gulf has roiled energy and financial markets, with oil prices up around 40 percent since the start of the fighting.
Meanwhile, the head of the International Energy Agency (IEA) said Wednesday he was “ready to move forward” with an additional release of oil reserves “if and when necessary”.
Fatih Birol’s comments in Tokyo came after Japanese Prime Minister Sanae Takaichi asked the agency “to prepare to implement an additional release in case the situation drags on” with the war in the Middle East.