Iran, Israel and oil prices
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Tuko News on MSNKenya's favoured Murban oil prices rise above KSh 9k per barrel as Israel-Iran war escalatesKenyans are staring at higher fuel prices in the coming months as the Murban Crude Oil prices rise above KSh 9,000 per barrel amid Israel-Iran hostilities.
A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.
Sir Keir Starmer has warned that this week’s explosive developments in the Middle East will deal a blow to the cost of living for ordinary Britons. Speaking ahead of his arrival in Canada for the G7, the Prime Minister voters will be seeing “the impact already on the economy and on oil prices.”
The run-up in crude futures paused on Monday, as the war between Israel and Iran failed to lead to a major disruption of Middle East oil supplies. U.S. crude oil prices touched an overnight high of $77.