The price of Kazakhstan’s CPC Blend crude has been declining on global markets.
According to the latest data, the benchmark traded at $114.47 on Friday but fell to $112.23 on Monday, April 20. The drop suggests shifting supply-and-demand dynamics and increased investor caution.
Middle East tensions weigh on market
Ongoing tensions in the Middle East continue to influence oil price stability, contributing to volatility in global energy markets.
Over the past month, CPC Blend prices have fallen significantly. About a month ago, the price peaked at $130.10 before steadily declining to around $112.
That represents a drop of more than $18, or roughly 13.9%, bringing prices to their lowest level in recent weeks.
Strait of Hormuz developments add volatility
The situation around the Strait of Hormuz, a critical route for global energy shipments, has added to market uncertainty.
Iran has restricted passage through the strait in recent months, contributing to earlier price spikes. On April 18, the waterway briefly reopened, but reports of Iranian forces firing on vessels led to renewed disruptions.
