Kuwait City: Kuwait crude oil edged 37 cents higher during Tuesday's trading to reach USD 64.93 per barrel compared with USD 64.56 per barrel the day before, Kuwait Petroleum Corporation (KPC) said Wednesday.
According to Kuwait News Agency, while Kuwait's crude oil experienced an increase, global oil benchmarks saw a decline. Brent futures dropped by 23 cents to USD 65.40 per barrel, and West Texas Intermediate lost 25 cents to settle at USD 63.16 per barrel.
The contrasting movements in oil prices highlight varying dynamics in the global oil market, with Kuwait's crude oil gaining value amidst broader declines in major oil futures.