Mubasher: The price of Kuwait’s crude oil increased by 60 cents to settle at $62.86 per barrel (pb) on Monday compared to $62.26 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).
At the global level, oil prices rose early Tuesday in line with hopes for the Organization of the Petroleum Exporting Countries (OPEC) to extend the agreement on reducing oil production.
Brent crude oil, August futures, added 0.8% to reach $62.79 pb early Tuesday.
Similarly, Nymex crude, July futures rose by 1.2% to $53.90 pb.
