Global oil prices continued to fall during the week ending June 18, 2026, as shipping activity through the Strait of Hormuz increased following a preliminary agreement between the United States and Iran. According to the latest Central Bank of Kenya (CBK) Weekly Bulletin released on Friday, June 19, 2026, easing tensions in the Middle East
The international price of oil went down in the week ended June 4, 2026, due to increased optimism about the continuing peace negotiations between the US and Iran. The fall in oil prices came following the favorable reaction by investors regarding these peace talks, which alleviated fears of possible disruptions in the oil supply chain.
Prices for global oil surged significantly in the period between May 14 and May 22, 2026, due to increasing geopolitical instability in the Middle East, as per the reports published by the Central Bank of Kenya(CBK). The price for Murban crude oil went up to $97.51(approximately Ksh 12,647.05) per barrel on May 21, 2026, compared
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