Oil prices surged on Monday following US airstrikes on Iran’s nuclear sites, raising global fears of a wider conflict that could disrupt energy markets. Iran, the world’s ninth-largest oil producer, has threatened retaliation – including possibly blocking the vital Strait of Hormuz, through which about 20% of the world’s oil passes, according to AFP. Brent crude rose over 4% in early … Continue reading Oil panic after US hits Iran: SA warned to brace for brutal petrol hikes