Namibia’s national oil company, National Petroleum Corporation of Namibia (NAMCOR), says the country currently has enough fuel reserves to cover about three months of national demand, even as the U.S.–Iran conflict continues to disrupt global oil markets.
Despite the three-month fuel cover, officials at NAMCOR say a shipment of fuel is already on its way to the country, according to a report by The Namibian Sun.
NAMCOR spokesperson Paulo Coelho told The Sun that the reserves provide a short-term buffer despite growing global uncertainty following intensified hostilities between the United States, Israel and Iran.
The crisis escalated after joint U.S. and Israeli airstrikes reportedly killed Iran’s supreme leader, Ali Khamenei, triggering retaliatory missile strikes by Iran on U.S. military installations across the region.
Donald Trump, President of the United States, has vowed that bombing raids would continue “as long as necessary,” while Iran’s president, Masoud Pezeshkian, warned that retaliation was the country’s “legitimate right and duty.”
The conflict has raised fears of disruptions in the Strait of Hormuz, one of the world’s most critical oil shipping routes, through which a significant share of global crude oil exports passes.
Benchmark crude, Brent Crude, surged to $119 per barrel on Monday during early Asian trading, while West Texas Intermediate (WTI) also rose above $100 per barrel for the first time since 2022.
Oil prices, however, eased following a statement by President Trump indicating that he foresees the conflict ending soon.
Despite the current buffer, officials warned that geopolitical shocks highlight the vulnerability of African economies that rely heavily on imported refined petroleum products.
As of Tuesday evening, Brent was trading at around $91 per barrel, while WTI was trading at about $86 per barrel.
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