Kuwait City: The price of Kuwaiti oil rose by 49 cents, reaching USD 64.66 per barrel on Monday. This marks an increase from the USD 64.17 per barrel recorded last Friday, as reported by the Kuwait Petroleum Corporation (KPC) on Tuesday.
According to Kuwait News Agency, the global oil market also experienced a rise in prices. Brent crude increased by 13 cents to reach USD 65.54 per barrel, while West Texas Intermediate saw a 20-cent rise, settling at USD 62.69 per barrel.
The adjustments in oil prices reflect ongoing fluctuations in the global market, impacting both local and international oil pricing. The changes are closely monitored by industry stakeholders, given their implications for economic and energy sectors worldwide.