Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The ceasefire between Iran and "Israel" has officially begun.
Sirens sound in northern occupied Palestine.
Israeli media: Iran used missiles that have never been launched before in its latest attacks.
Israeli military command reports the detection of a fifth launch from Iran.
Israeli media: The missile struck Beer al-Sabe' just 20 seconds after sirens ended.
Sirens sound in West Bank settlements, occupied al-Quds,
For the fourth time in an hour, sirens blast in Tel Aviv and surrounding areas.
Israeli media: A very difficult morning in "Israel".
Israeli media: 11 settlers have been killed in the strike on Bir al-Sabe'.
Israeli media: One settler dead in a shelter in Ramat Gan.

Protests in Kazakhstan push uranium, oil prices higher

  • By Al Mayadeen
  • Source: Agencies
  • 8 Jan 2022 19:05
2 Min Read

Uranium to Kazakhstan is what oil is to Saudi Arabia - and the price is hiking in both resources amid unrest.

  • x
  • Uranium stocks in Kazakhstan. (Image: Kazatomprom)
    Uranium stocks in Kazakhstan (Image: Kazatomprom)

As Kazakhstan goes through a political crisis, uranium and oil prices have increased. 

Kazakhstan produces over 40% of the world's uranium - as prices soar from $42 to $45.25 a pound as of Wednesday, according to UxC data, there will be an increasing reliance on other suppliers in North America and Australia.

If Kazakhstan's oil prices were to face severe issues in the long run, the situation, according to Jonathan Hinze, president of UxC, will be akin to "Saudi Arabia having issues in oil," and “even if there isn’t a shortage right now, the potential for this to create a shortage is what people now are trading on.”

Although uranium prices are rising, there isn't a shortage of power plant shutdowns. Many analysts contend that in case of any lessening of production in uranium, power plants will continue to function as stockpiles have been built over the years, in contrast to facilities that run on fossil fuels. 

Related News

Uranium enrichment is a red line to Iran, MPs tell IRNA

US, European energy companies in jeopardy amid uranium supply 'crunch'

Kazatomprom, a uranium mining company in Kazakhstan, has seen its shares fall 10% in the last 2 days. 

With the rise in violence in Kazakhstan, “people wake up to the fact that maybe we can’t rely on one major producer,” said Nick Piquard, a portfolio manager at Horizons ETFs.

Crude oil has its share of the trauma 

Crude oil has also experienced a sharp increase on Thursday, remaining high on Friday as oil production in Tengiz, located in the Caspian Sea, was reduced.

Brent Crude was trading at 80$ a barrel, whereas West Texas Intermediate was trading at 82$ a barrel. 

According to Reuters, some of the production disruptions were due to contractors working on the field who had declared their support for the protestors, thus creating disruption in train lines. 

Kazakhstan produces around 1.6 million barrels per day of crude oil - 700,000 of these barrels are from Tengiz. In compliance with OPEC+, for February, the country's quota is 1.589 million barrels a day.

  • Uranium
  • Crude oil
  • west texas intermediate
  • brent crude
  • Kazakhstan

Most Read

Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025
Iran's heavy barrages impact multiple Israeli targets overnight

Iran's heavy barrages impact multiple Israeli targets overnight

  • Palestine
  • 18 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
President Donald Trump speaks with reporters upon arriving at Morristown Municipal Airport in Morristown, N.J., Friday, June 20, 2025. (AP Photo/Manuel Balce Ceneta)
Politics

Trump lashes out at media outlets for downplaying Iran strike impact

ap
Politics

Turkey denies role in US-Israeli strikes on Iran nuclear sites

Iran targets US air base in Qatar with 'destructive' missile strike
MENA

Iran retaliates, targets US air base in Qatar with missiles

Demonstrators hold up a banner during a protest by Palestine Action group in London, Monday, June 23, 2025. (AP Photo/Frank Augstein)
Politics

UK signals 'terror' ban on 'Palestine Action', sparking protests

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS