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
International oil prices increased in the week endings on May 14, 2026. In the CBK weekly report published on May 15, crude oil increased from $89.13 (Ksh 11533.42) per barrel on May 7 to $94.84 (Ksh 12272.30) per barrel on May 14. CBK said the increase is due to uncertainty arising from the ongoing war
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