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Oil Prices Volatile After Trump Comments, Strait of Hormuz Warning
Oil prices experienced historic volatility, surging to $115 a barrel before a potential release of emergency stockpiles and comments from US President Donald Trump offered some relief. Following Trump's strong warning to Iran against blocking the Strait of Hormuz, a vital shipping route for global energy supplies, oil prices experienced a significant drop. G7 nations have pledged to take necessary measures to support global energy supplies amidst soaring oil prices triggered by the US-Israel conflict with Iran, though a meeting of G7 finance ministers and the International Energy Agency concluded without an immediate agreement to release strategic crude reserves.
Kenya Pipeline Shares Begin Trading at Nairobi Securities Exchange
Shares of Kenya Pipeline Company (KPC) commenced trading on the Nairobi Securities Exchange on Tuesday, March 10, following a bell-ringing ceremony led by President William Ruto. Separately, Kenya's Bank deposits insurer, Kenya Deposit Insurance Corporation (KDIC), is open to developing a deposit protection scheme for Savings and Credit Co-operative Societies to enhance saver confidence in the sector holding over Sh1 trillion in deposits. The Capital Markets Authority Kenya has also partnered with Afri Fund Capital through a Memorandum of Understanding to boost infrastructure financing in Kenya using capital market products.
