Kuwait – Mubasher: The price per barrel of Kuwaiti oil grew $0.96 on Monday, closing at $42.28 per barrel up from $41.32 by the end of Friday’s trades, according to data by the Kuwait Petroleum Corporation (KPC).
Globally, oil prices recorded six-month highs on Monday on the back of fears of retreating global supply and expectations of increased prices. The gains came despite a rise in US crude supplies.
Brent crude increased $1.14 to close at $48.97 per barrel, while US crude jumped $1.51 and closed at $47.72 per barrel.
Oil and gold prices were up early Tuesday, following a falling dollar, with Brent and US crude gaining 0.63% to $49.28 per barrel and 1.15% to $48.27 per barrel, respectively.
