Kuwait city: The price of Kuwaiti oil experienced a decline of 26 cents, settling at USD 70.12 per barrel (pb) during Thursday's trading session. This was a drop from the previous day's price of USD 70.38 pb, as reported by the Kuwait Petroleum Corporation (KPC) on Friday.
According to Kuwait News Agency, while the Kuwaiti oil price saw a decrease, global oil prices moved in the opposite direction. The price of Brent crude increased by one US dollar, reaching USD 69.52 pb. Similarly, the price of West Texas Intermediate crude rose by USD 1.16, closing at USD 67.54 pb.