The escalation of the situation regarding the export of Kazakh raw materials has led to an increase in oil prices in international markets. This has also affected the prices of oil from Azerbaijan and the USA.
According to Bloomberg, the reduction in Kazakh oil supplies has significantly impacted the rise in prices in the European market, despite the existence of a global surplus. — The decrease in CPC Blend volumes from Kazakhstan, along with supply disruptions from Libya and several fields in the North Sea, have been the main factors contributing to the price increase in the northern and Mediterranean markets, — emphasizes the publication.
On trading platforms on Tuesday, American WTI Midland oil reached a premium of $2.9 over Brent, the highest value in more than a year. Additionally, prices for Azerbaijani oil Azeri Light set a record for the past year.
Although at the beginning of 2026, risks for the global oil market were associated with instability in Iran and Venezuela, in fact, the main impact came from Kazakhstan. The reduction in supplies through the CPC pipeline had the most significant effect on the market.
