Kuwait City: Kuwait crude oil rose USD 1.97 during Wednesday's trading to reach USD 64.05 per barrel compared with USD 62.08 pb the day before, Kuwait Petroleum Corporation (KPC) said Thursday.
According to Kuwait News Agency, the increase in Kuwait's crude oil price contrasts with the performance of other major benchmarks. Brent futures experienced a decline, dropping USD 1.03 to USD 61.12 per barrel. Similarly, West Texas Intermediate saw a reduction of USD 1.02, settling at USD 58.07 per barrel.
This development comes amidst fluctuating prices in the global oil market, indicating varying trends in different regions and benchmarks. The change in Kuwait's pricing reflects market dynamics and specific regional factors impacting the oil trade.