Oil markets have experienced one of the sharpest rallies in recent years as tensions in the Middle East intensify. Crude prices surged close to 120 dollars per barrel amid fears that the expanding conflict involving Iran, Israel, and the United States could disrupt global energy supplies.

Kazakhstan plans to start producing shale oil (crude oil extracted from sedimentary rocks - ed.) in 2025, Kazakh Prime Minister Olzhas Bektenov said, News.az reports citing TASS.