Global oil prices are predicted to stay above $100 for the rest of the year, even if the Strait of Hormuz reopens soon, according to JP Morgan. This forecast is based on ongoing supply disruptions and logistical challenges.

• Oil prices are expected to remain in the "low $100s" for most of the year, averaging $97 for 2026.
• Key players include JP Morgan, President Donald Trump, and Iran, with the conflict impacting the Strait of Hormuz.
• The market has experienced an "unprecedented supply loss of about a billion barrels of oil," with a slow normalization expected even after the waterway potentially reopens.

U.S. President Donald Trump has announced his intention to suspend the federal gas tax as fuel prices surge.

• Gasoline prices have risen to a nationwide average of $4.52 per gallon.
• The proposal requires congressional approval, which has been historically difficult to obtain for such measures.
• Suspending the tax, which is 18.4 cents per gallon, could significantly impact the Highway Trust Fund.

Ride-hailing platform Bolt has increased its fares by 6 percent in Kenya to help drivers cope with rising fuel costs.

• A 6 percent fare increase has been implemented by Bolt.
• The decision was made by Bolt, an Estonian-headquartered company, in response to driver feedback.
• This adjustment follows a recent price hike of Sh19.32 per litre for super petrol and Sh30.09 for diesel by the Energy and Petroleum Regulatory Authority.