Kenyans 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.

With the exception of Russia’s invasion of Ukraine, big swings in oil have been driven by broader geoeconomic trends

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.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

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.”

In recent days, crude oil prices have surged sharply, driven primarily by escalating tensions between Iran and Israel.

What is the biggest US crypto news today? JPMorgan says an attack on Iran could spike oil prices to $120, driving US CPI inflation to 5%.