International benchmark crude has climbed above $113 per barrel, approaching the four‑year peak of $116.72 recorded in late October, as investors price in heightened US‑Iran tensions.

The rally adds to more than 15 % gains in October alone, reflecting sustained pressure on global oil markets amid the ongoing conflict between Washington and Tehran.

Since the start of hostilities on 28 February, Brent crude has risen from about $71.32 to the current level, a gain of roughly 58 % and an increase of $41.68 per barrel.

The price surge follows reports that a senior US military commander briefed the US president on possible renewed strikes against Iran, raising fears that diplomatic efforts could collapse.

Iran’s receipt of a letter from the US vice‑president aimed at reviving peace talks has not eased tensions, with Tehran signalling little willingness to soften its stance.

Security concerns have also risen around the Strait of Hormuz after two tanker incidents, heightening worries about the safety of a key shipping route for world oil supplies.

For oil‑importing economies such as Kenya, sustained higher crude prices could increase import bills, putting extra pressure on foreign‑exchange reserves and domestic fuel prices.

Higher import costs are likely to feed inflationary pressures through increased transportation, manufacturing and distribution expenses, potentially raising the cost of living for Kenyan households.