Global Tensions, Local Impact: Oil Prices Soar After Israel-Iran Strike Oil prices have spiked by over 9% after Israel launched a surprise airstrike on Iran targeting key military and nuclear sites. With Iran threatening retaliation and the risk of disruption to the Strait of Hormuz—a major route for global oil exports—the world is bracing for ripple effects. The surge has already pushed Brent crude above $75 a barrel. Global markets are on edge as fuel, transport, and shipping costs are expected to climb. For countries like Namibia, rising fuel prices could become a reality. Higher pump prices may trigger increases in food, transport, and electricity costs—affecting everyday life for millions. As tensions escalate, energy analysts warn that this could be the beginning of a longer economic strain if the conflict continues. Report: Shawn Jordan R.P. Uiseb Photo: PBS