Oil prices jump over Kazakhstan unrest, while uranium less affected

Unrest in OPEC+ member Kazakhstan has pushed up oil prices as investors fear supply interruptions, but the uranium market appears less affected despite the Central Asian country being the world’s second largest producer.

"Riots obviously can stop production and exports," said Bjarne Schieldrop, an analyst at Swedish bank SEB.

Over the week, crude prices gained about five percent and on Friday Brent exceeded $83 per barrel, "putting it at its highest level since the price slide triggered by the first appearance of the Omicron variant in late November," said Carsten Fritsch, commodities analyst at Commerzbank.

Protests spread across the country of 19 million this week in outrage over a New Year increase in prices for liquid petroleum gas (LPG), which many use to fuel cars.Thousands took to the streets in Almaty and in the western province of Mangystau in protests that broadened to include anti-government slogans.Violence erupted when police fired tear gas […]

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