Oil Prices

Global crude oil prices fell more than 12 percent this week, prompting expectations of possible relief at Kenyan fuel pumps in the coming weeks. The decline followed a preliminary ceasefire agreement between the United States and Iran. Kenya imports most of its petroleum and remains sensitive to movements in international markets.

14 Mwezi wa sita, 2026 Imeripotiwa na AI

Bitcoin climbed above $65,000 amid reports of progress toward an interim US-Iran agreement that would reopen the Strait of Hormuz. Oil prices fell sharply while US stock futures advanced. Conflicting statements have emerged on the exact signing timeline.

Long-term government bond yields and Brent crude prices have moved close to levels that could trigger broader market stress. Current readings show the US 30-year Treasury yield at 5.109% and Brent crude near $108.54. Bitcoin traded near $78,000 as markets assessed the risks.

15 Mwezi wa tano, 2026 Imeripotiwa na AI

Foreign automakers are strengthening their electric vehicle strategies in South Korea as surging oil prices accelerate demand for lower-cost EVs. Sales figures for January to April show strong growth for brands including BYD and Audi.

Crude oil prices dipped on April 17 as tensions in the Middle East eased following a ceasefire between Israel and Lebanon. President Trump indicated that a deal with Iran was close, after a 10-day truce removed a key obstacle to negotiations. Experts expect ongoing volatility but supported prices.

14 Mwezi wa nne, 2026 Imeripotiwa na AI

South Korea's import prices surged 16.1 percent in March, the sharpest rise in over 28 years, driven by soaring global oil prices amid the Middle East conflict, Bank of Korea data showed. Dubai crude jumped 87.9 percent to $128.52 per barrel. The export price index also rose 16.3 percent.