Oil prices fell on Tuesday as expectations grew that oil supplies from Kazakhstan would return to normal. After Kazakhstan announced that it is preparing to restart production at its largest oil field, investors became optimistic that more oil would be available in the market. As a result, Brent and U.S. crude oil prices declined slightly. However, the fall in prices was limited due to a severe winter storm along the U.S. Gulf Coast, which disrupted crude oil production and caused problems at several refineries. In addition, ongoing geopolitical tensions in the Middle East and expectations that OPEC+ countries may continue to hold back on increasing production remain key factors influencing the oil market.
Oil prices fall on Kazakhstan supply expectations!!!
