Energy Markets
South Africa wants to sell crude oil at $100 per barrel before it will increase its stockpiles
South Africa will not sell more strategic crude oil until global oil prices reach $100 per barrel, according to a senior energy official. Since 2022, the country has been trying to sell crude oil. The government initially cut a fuel tax in order to protect consumers from high petrol prices and diesel. Brent crude was $99 per barrel in that year. In recent weeks, global crude oil prices have been hammered by fears that President Donald Trump's tariff war will push economies across the globe into recession. Brent traded at around $66 per barrel on Wednesday. "The oil prices are...