Kuwait city: The price of Kuwaiti oil experienced a decline, dropping by 99 cents to USD 70.62 per barrel on Thursday. This decrease was reported by the Kuwait Petroleum Corporation (KPC) on Friday, marking a fall from the previous price of USD 71.61 per barrel recorded on Wednesday.
According to Kuwait News Agency, the decline in Kuwaiti oil prices aligns with movements observed in global markets. Brent futures witnessed a reduction of 46 cents, bringing the price down to USD 66.43 per barrel. Similarly, West Texas Intermediate reported a decrease of 47 cents, settling at USD 63.88 per barrel. These changes reflect broader trends in the global oil market.