Oil prices hold above $100 as Middle East supply concerns persist

US West Texas Intermediate (WTI) crude futures also gained, increasing by 76 cents, or 0.76%, to $101.06 per barrel.

Oil prices have remained above the $100-per-barrel mark amid growing concerns over global supply. Recent disruptions to key energy infrastructure and shipping routes in the Middle East have added to uncertainty in international oil markets.

Earlier, Qazinform reported Kazakhstan had raised its oil-price assumption for the draft republican budget for 2027-2029 to $70 per barrel from $60 per barrel in the current budget.