Oil hovers around $100, stocks mixed as Iran war rages

The ongoing military escalation between Iran and Israel has created a critical inflection point for European energy investors and businesses operating across African markets. With crude oil hovering near the $100-per-barrel threshold and the Strait of Hormuz—through which approximately 21% of global petroleum passes—effectively closed since late February, the geopolitical crisis is fundamentally altering supply chains, investment calculus, and operational costs across the continent. The third week of active hostilities shows no diplomatic resolution in sight, despite international efforts to establish humanitarian corridors for commercial shipping. The targeting of Kharg Island, Iran's primary oil export terminal, represents an escalation in the conflict's economic dimensions. While Iranian officials dispute the extent of infrastructure damage, the mere threat of further strikes on energy facilities has created a persistent risk premium in commodity markets—a volatility that carries direct implications for European firms. For European entrepreneurs and investors, the consequences are multifaceted. First, energy costs for operations across Africa are rising. Companies with significant transportation, manufacturing, or logistics operations—particularly in West Africa's booming energy sector—face margin compression as diesel and fuel surcharges increase. Second, the disruption creates opportunities for diversification away from Middle Eastern oil dependency, potentially benefiting African energy producers and renewable energy