Oil Prices Climb After Attacks on Saudi Facilities Deepen Supply Fears

Kenya, April 10, 2026 - Global oil prices edged higher on Friday after fresh attacks on Saudi Arabia’s energy infrastructure disrupted production and heightened fears of prolonged supply shortages, underscoring the growing economic fallout from the ongoing Middle East conflict.

rose to about $96–$97 per barrel, while U.S. West Texas Intermediate (WTI) approached $99 per barrel, as markets reacted to renewed supply risks following the strikes. 

According to Saudi authorities, the attacks, linked to the ongoing conflict involving Iran, have cut oil production by around 600,000 barrels per day and reduced flows through the critical East-West pipeline by about 700,000 barrels per day. 

The strikes targeted major facilities including oilfields, refineries and processing plants, dealing a significant blow to one of the world’s largest oil producers. 

Analysts say the disruption represents a dual shock, affecting both production and logistics, at a time when global oil markets are already under strain.

The attacks are part of a broader escalation in the Iran–U.S.–Israel conflict, where energy infrastructure across the Gulf has increasingly become a strategic target.

Over the past weeks, dozens of oil and gas facilities have been hit, up to 2.4 million barrels per day of refining capacity has been disrupted, and shipping through the Strait of Hormuz remains constrained 

The Strait of Hormuz alone handles a significant portion of global oil trade, meaning any disruption has immediate ripple effects on prices and supply chains worldwide.

Even with ceasefire talks underway, uncertainty remains high, with analysts warning that continued disruptions could keep prices elevated and markets volatile.

Interestingly, oil prices are being driven not only by actual supply losses but also by risk perception.

Despite earlier declines following ceasefire hopes, traders are now pricing in the likelihood that disruptions will persist, especially given continued attacks and the fragile nature of diplomatic efforts. 

This has led to sharp swings in oil markets, with prices rising even as investors remain cautious about the broader economic outlook.

For Kenya, the implications are immediate and far-reaching.

As a net importer of petroleum, the country is highly exposed to global price shocks. Rising oil prices typically translate into, higher fuel costs at the pump, increased transport and logistics expenses, as well as rising food prices due to higher production and distribution costs