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
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police

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

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

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