Kuwait Oil Price Climbs

The price of Kuwaiti oil went by 89 cents to US$33.89 per barrel (pb) on Tuesday, compared with US$33.01 a day earlier, the Kuwait Petroleum Corporation (KPC) said on Wednesday.

Globally, the price of Brent crude on Tuesday closed up by US$1.25 or 3.3% to US$39.57 pb, while the West Texas Intermediate jumped by US$1.37 or 3.9% to US$36.81 pb.