Kuwait city: The price of Kuwaiti oil increased by 57 cents, reaching USD 63.61 per barrel on Monday, as reported by the Kuwait Petroleum Corporation (KPC) on Tuesday. This marks a rise from the previous price of USD 63.04 per barrel.
According to Kuwait News Agency, while Kuwait witnessed an increase in its oil price, the global market experienced a downturn. The prices of Brent Crude and West Texas Intermediate both recorded decreases, with Brent Crude falling by USD 1.26 to settle at USD 62.49 per barrel and West Texas Intermediate dropping by USD 1.20 to USD 58.88 per barrel.