US and Israeli actions pushed oil prices to $100

Recent military actions by the United States and Israel against Iran have caused a sharp rise in global oil prices. Zamin.uz reported this.

The price of a barrel of Brent crude oil has risen again above $100, marking significant growth in the global energy market. Tengrinews reported this.

According to the latest trading data on the London ICE exchange, May futures prices for Brent crude increased by more than 14%, exceeding $100 per barrel. Additionally, April futures for WTI crude also rose by 14%, reaching $95.18.

This sharp price increase occurred following volatility at the beginning of March. On March 9, oil prices surpassed $100 for the first time since 2022, reaching a peak between $116 and $119 due to fears of supply disruptions through the Strait of Hormuz.

Prior to this escalation, oil prices had briefly declined. According to industry experts, the rise in oil prices serves as an additional revenue source for oil-exporting countries, particularly Kazakhstan, helping to strengthen their national funds and currencies.

However, high volatility in the market exacerbates economic risks. Sharp price fluctuations could negatively impact inflation rates, investment flows, and financial stability.

For example, Kazakhstan's state budget for 2026-2028 is based on a conservative forecast assuming an oil price of $60 per barrel.