DODOMA, March 24 -- MORE than 30 per cent of the worlds crude oil originates from countries in the Middle East, a region currently affected by the ongoing tensions involving the United States, Israel and Iran.
Whenever conflict escalates in this region, it directly impacts global oil prices, particularly for countries that depend on imports, including Tanzania.
As key oil infrastructure, including storage facilities in the Gulf, becomes potential targets, concerns over supply disruptions continue to grow. Energy analysts warn that if the conflict persists, global oil prices could surge significantly.
The Middle East remains the worlds leading hub for oil production. When the region is engulfed in conflict, production, transportation an...
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