Oil Price Surge Threatens Aid to Millions of Children Worldwide
Save the Children has warned that higher oil costs could cut aid to almost 1.5 million children worldwide due to increased delivery costs.
The conflict in the Middle East, particularly after the US-Israeli war on Iran in February, has led to a surge in crude oil prices.
Oil had been projected to average about $60 per barrel in 2026 before the fighting began but rose as high as $126 by the end of April and is now trading at around $90 a barrel, according to Reuters.
Save the Children estimated that aid-delivery costs have risen by approximately $13 million since the start of the conflict.
This additional cost could have funded various essential services for children and families affected by conflict and displacement, including food, medicine, clean water, and education.