Oil prices climbed above Sh10,740 a barrel in Kenya, despite posting a weekly loss, as uncertainty over the strategic Strait of Hormuz continued to weigh on markets (eastleighvoice.co.ke). The potential reopening of the strait could restore millions of barrels of Middle Eastern oil to global supply chains, alleviating concerns over energy shortages and potentially reducing price pressures. Analysts noted that the ongoing geopolitical tensions in the region remain a key factor influencing market sentiment. While prices rose in the short term, the weekly decline highlights the persistent volatility linked to the strategic waterway. The situation remains under close watch as traders and policymakers assess the long-term implications of the Hormuz bottleneck on global energy security.
