Global oil prices rise on fears of supply disruption from Kazakhstan

Global oil prices rose on January 10 morning amid continuing fears of supply disruptions due to the situation in Kazakhstan, Report informs.

The price of March futures for Brent crude oil rose by 0.22% to $81.93 per barrel, February futures for WTI grew in price by 0.24% to $79.09 per barrel.

Oil producer Tengizchevroil announced last week that it will continue to operate in Kazakhstan despite protests in the country, but temporarily adjusted production due to logistics difficulties.

Oil prices are rising after Kazakhstan cut production amid internal unrest and protests.

Also, data from Baker Hughes Company was released on January 7 on the number of operating rigs in the US. Over the previous week, their number increased by 1 unit, to 481 units.