Photo courtesy of Egypt's cabinet
The cabinet said it had activated a crisis monitoring room early Saturday to track developments and assess potential fallout on domestic markets.
Prime Minister Mostafa Madbouly reviewed food reserves with Supply and Internal Trade Minister Sherif Farouk, who said supplies were flowing normally to markets and that authorities were monitoring prices to prevent sharp increases.
Officials said they were coordinating with regulatory bodies to curb hoarding and unjustified price hikes, particularly during the holy month of Ramadan.
Madbouly also held talks with Petroleum and Mineral Resources Minister Karim Badawi on fuel stocks and supply chains. Badawy said petroleum reserves were at “safe” levels and that distribution was continuing to meet domestic demand, including in key production sectors.
He said precautionary steps and contingency plans had been put in place to deal with possible disruptions.
The reassurances came hours after the United States and Israel launched major military operations against Iran. Tehran later announced retaliatory strikes, raising fears of a wider regional confrontation and renewed pressure on energy markets.
The escalation has already disrupted negotiations over Iran’s nuclear programme and is expected to drive oil prices higher, although analysts say the scale and duration of any sustained increase will depend on how the conflict unfolds.
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