The Central Bank of Kenya (CBK) has revealed that global oil prices have declined ahead of the Energy and Petroleum Regulatory Authority (EPRA) September- October review. In its weekly Bulletin on September 13,

Crude oil prices hit multi-year lows as hedge funds reduce bullish bets to record lows amid ongoing supply disruptions and OPEC+ struggles to stabilize the market.

The Brent/WTI spread has historically ranged between $4/bbl and $8/bbl, but it can expand or contract based on factors related to U.S. and international supply and demand conditions. For example, the Brent/WTI spread hit nearly $14/bbl in April 2011 when protests sparked market fears of significant oil supply disruptions in the Middle East.

US crude oil prices have experienced a sharp decline, with West Texas Intermediate (WTI) crude falling to $66.11 per barrel and Brent crude dropping below $70. This marks a significant drop of over 3% for both benchmarks,