- Global energy markets are reeling from one of the worst shocks in decades after the joint US-Israeli strikes on Iran
- Energy CS Opiyo Wandayi said authorities are closely monitoring developments in the Middle East, a region critical to global oil supplies
- This came after Iran vowed to attack all ships passing through the Strait of Hormuz, accounting for a fifth of the world’s oil route
TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting, offering insights into Kenyan and global economic trends.
President William Ruto’s government has reassured Kenyans that the country has sufficient petroleum supplies to cushion it against any potential disruptions arising from the ongoing turmoil in the Middle East.
Source: Twitter
According to Energy and Petroleum Cabinet Secretary (CS) Opiyo Wandayi, Kenya currently has enough stocks to satisfy both local demand and regional demands.
What next for Kenya amid the Iran conflict?
In a statement to newsrooms on Tuesday, March 3, Wandayi said that the government had already secured scheduled imports through the end of April 2026, ensuring fuel availability amid global instability.
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The CS revealed that the government was negotiating with the government-to-government suppliers in the Middle East to plan.
“As of today, the country has sufficient stocks to cover both the country and the region. We have scheduled imports for delivery up to the end of April 2026 and, therefore, as it stands, we are assured of security of supply,” he stated.
He added that the government-to-government importation system, which has played a key role in shielding Kenya from volatile global spot markets, continues to stabilise the country’s fuel supply chain.
The CS said authorities are closely monitoring developments in the Middle East, a region critical to global oil supplies, to ensure any emerging threats are addressed promptly.
“We are closely monitoring the fluid situation as it evolves, whilst engaging with our G-G suppliers for contingency planning,” he assured.
Why the Iran war could disrupt supply chains
The assurance coincides with increased geopolitical tensions that have raised concerns about supply chain interruptions and possible increases in the price of crude oil globally.
Kenya’s dependence on imported refined petroleum products makes it susceptible to external shocks, just like many other net oil-importing nations.
According to Terence Hove, Senior Financial Markets Strategist at Exness,
“The longer the US- Iran conflict stretches, the higher the chances for a potential oil crisis, and Kenya, as a country heavily dependent on oil imports from the Middle East and the Gulf, will feel this first-hand. On a more positive note, Kenya has for now sufficient foreign currency reserves to cushion any potential damaging effects. Rising oil prices are, of course, a reason for concern. Yet, watching the events through a ‘check and balance’ lens is crucial going forward.”
After coordinated US and Israeli airstrikes on Iran and Tehran’s retaliatory missile launches across the Gulf halted oil deliveries from the world’s most important producing region, global energy markets are reeling from one of the worst shocks in decades.
Source: Facebook
Tensions in the already unstable Middle East increased as the US and Israel conducted military strikes on Iran, targeting key officials.
According to Al-Jazeera, Iran vowed to attack all ships passing through the Strait of Hormuz, accounting for a fifth of the world’s oil route.
“We will also attack oil pipelines and will not allow a single drop of oil to leave the region. Oil prices will reach $200 per barrel (KSh 25,840) in the coming days,” Ebrahim Jabari, a senior adviser to the IRGC’s commander-in-chief, said on Monday, March 2.
What did Trump say?
TUKO.co.ke previously reported that Trump vowed to obliterate Iranian weapons.
Trump said US forces had begun major combat operations aimed at destroying Iran’s missile capabilities and nuclear programme.
The escalation follows earlier strikes under Operation Midnight Hammer targeting nuclear sites at Fordow, Natanz and Isfahan.
Source: TUKO.co.ke
