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Zambia: President Hichilema Holds Talks With Oil Marketing Companies Over Middle East Fuel Price Shock
The ministry is already collaborating with industry players to implement strategies aimed at maintaining consistent fuel availability nationwide.
The government also indicated that emergency interventions previously activated during the drought period remain in place and can be deployed to respond to the current situation if necessary.
Meanwhile, the National Oil Marketing Association has confirmed continued engagement with the government, stating that the industry is working collaboratively with authorities to manage the potential impact of the Middle East conflict on Zambia’s fuel supply and pricing.
The move underscores the government’s commitment to protecting the country’s economic stability amid evolving global challenges.
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U.S. Allies Reject Trump’s Call To Escort Oil Tankers Through Strait Of Hormuz.
Japan Releases Emergency Oil Reserves As Iran War Disrupts Global Energy Supply
This was announced on Monday in a notice published in the Japanese government’s official gazette.
Japanese Prime Minister Sanae Takaichi last week announced plans to unilaterally release 80 million barrels of oil from stockpiles amid supply concerns due to Iran’s threats against shipping in the strait.
Takaichi announced the move shortly before the International Energy Agency (IEA) said it would coordinate the release of a record 400 million barrels to help cushion the market from the widening fallout of the United States and Israel’s war with Iran.
Despite the announcement by the Paris-based IEA, oil prices have repeatedly jumped above $100 a barrel during the past week as traders weigh the prospect of prolonged disruption to the critical waterway.
Tokyo said on Monday that it had no plans to deploy its navy to the strait after U.S. President Donald Trump called on other countries to help unblock the waterway.
Brent crude, the most important benchmark for global oil prices, rose as much as 3 percent on Sunday before easing slightly on Monday.
Brent stood at $104.85 a barrel as of 05:45 GMT, up more than 40 percent since the start of the war on February 28.
Japan is one of the world’s largest oil importers, relying on fossil fuels from overseas for about 80 percent of its energy needs.
The East Asian country also has one of the world’s largest oil reserves, with enough supply to meet 254 days of domestic consumption.
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Trump Urges France, China, Others To Deploy Warships To Keep Strait Of Hormuz Open
The U.S. president said several nations could join efforts alongside the United States to keep the waterway open for international shipping.
Trump specifically urged China, France, Japan, South Korea, the United Kingdom, and others to join the U.S. in preventing Iran from keeping the strait blocked to shipping.
“Many countries, especially those that are affected by Iran’s attempted closure of the Hormuz Strait, will be sending warships, in conjunction with the United States of America, to keep the strait open and safe,” Trump posted on the social platform Truth Social.
He added that key global economies impacted by the disruption should contribute to the effort.
“Hopefully China, France, Japan, South Korea, the UK, and others that are affected by this artificial constraint will send ships to the area,” he said.

The White House later echoed the president’s stance in a noon post on X, stating: “One way or the other, we will soon get the Hormuz Strait OPEN, SAFE, and FREE!” – President Donald J. Trump.
The Strait of Hormuz is one of the world’s most critical energy chokepoints, handling a significant share of global oil shipments.
The latest tensions are part of a widening Middle East conflict involving Iran, Israel and the United States that escalated after joint U.S.–Israeli strikes on Iranian military targets on February 28, 2026.
Since then, Iran has launched retaliatory missile and drone attacks across the region and threatened shipping in the Strait of Hormuz, raising fears of a broader regional war and global economic fallout.
More than 20 million barrels of oil pass through the strait each day — roughly one-fifth of global consumption, according to Reuters. Disruptions there have already pushed oil prices sharply higher as markets fear prolonged supply shortages.
The conflict has also begun affecting shipping and trade across the Gulf.
Tankers have been attacked and maritime traffic disrupted, while analysts warn that a sustained blockade could have “catastrophic consequences” for global energy markets and the wider economy.



