Mubasher: The price of Kuwait’s crude oil increased by 49 cents to settle at $54.61 per barrel (pb) on Monday compared to $54.12 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).
At the global level, Nymex crude oil, November futures, closed Monday 0.8% higher at $51.87 pb, hitting its highest level in three weeks in line with the escalation of the tension in North Iraq.
On Sunday, the military operation in Iraq was launched amid growing tensions after people living under Kurdish control voted for independence in a referendum last month.
