Oil prices remain elevated due to renewed U.S.-Iran tensions and threats to the Caspian Pipeline Consortium (CPC) infrastructure, a critical route for Kazakhstan’s crude exports. Brent crude holds around $90 per barrel, with the CPC experiencing disruptions from recent tanker attacks, exacerbating supply concerns. These developments have contributed to a heightened geopolitical risk premium, with a 14.5% probability of crude oil reaching a new all-time high by December.
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