Unrest in OPEC+ member Kazakhstan has led to an increase in oil prices as investors fear supply interruptions; however, the uranium market appears less affected despite the Central Asian country being the world's second-largest producer.
The Organization of the Petroleum Exporting Countries plus (OPEC+) are the 10 non-OPEC countries that export crude oil, including Kazakhstan and Azerbaijan.
"Riots obviously can stop production and exports," said Bjarne Schieldrop, an analyst at Swedish bank SEB.
Over the week, crude prices gained about 5% and on Friday Brent exceeded $83 per barrel, "putting it at its highest level since the price slide triggered by the first appearance of the omicron variant in late November," said Carsten Fritsch, commodities analyst at Commerzbank.
Protests spread across the country of 19 million this week in outrage over New Year's increase in prices for liquid petroleum gas (LPG), which many use to fuel cars.
Thousands took to the streets in Almaty and in the western province of Mangystau in protests that broadened to include anti-government slogans.
Violence erupted when police fired tear gas and stun grenades at thousands protesting in Almaty on Tuesday.
The next day protesters stormed government buildings, setting them ablaze and a nationwide state of emergency was declared.
Kazakh president Kassym-Jomart Tokayev on Friday rejected calls for talks with protesters after days of unprecedented unrest, authorizing his forces to shoot-to-kill without...
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