Oil Price Rise After Attack on Kazakhstan’s Key Oil Export Route

Oil prices rose on Tuesday following a Monday drone attack on an oil pipeline in southern Russia, which is the key export route for two-thirds of Kazakhstan’s crude. As of 7:37 a.m. EST on Tuesday, the U.S. benchmark, WTI Crude, traded 0.72% higher at $71.26, while the international benchmark, Brent Crude, was up by 0.13% on the day. In the past few days, the market was expecting the start of the U.S.-Russia talks in Saudi Arabia on a possible end to the war in Ukraine, and oil prices were falling amid expectations that a potential deal could…