Kenya Eyes Fuel Price Relief as Iran Reopens Strait of Hormuz Under U.S. Ceasefire Deal

Kenya is expected to benefit from lower fuel prices after Iran agreed to a ceasefire with the United States and announced the reopening of the Strait of Hormuz, a critical oil shipping route. The strait, through which about 20% of global crude oil passes, had been closed, stranding hundreds of vessels. The reopening is particularly significant for Kenya, whose government-to-government fuel supply program relies on Gulf nations. The deal is expected to stabilize oil markets and reduce freight and insurance costs.