Kazakhstan Oil Embargo Fears Ease, WTI Crude Prices Drop

• Fears of oil production disruption in Kazakhstan's Tengiz and Korolev fields have significantly reduced.
• WTI crude oil prices fell by 79 cents (1.31%) to $59.57 per barrel on Wednesday.
• The previous halt in Kazakhstan's major oil fields, an OPEC+ member, was due to production issues.
• Industry sources suggest the production halt in Kazakhstan might last only 7 to 10 days.
• Political tensions and anticipated increases in US oil inventories continue to pressure the oil sector.

Why It Matters: Kazakhstan's oil production fears subside, leading to a drop in WTI crude prices despite ongoing political tensions.