Mubasher: The price of Kuwait’s crude oil increased by $1.05 to settle at $63.44 per barrel (pb) on Wednesday compared to $62.39 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC).
At the global level, oil prices increased by 2.6% in line with Nymex crude oil which closed at the highest level since February, following the unexpected decline in the US oil inventories.
Recent data showed that the US oil stock shrank by 2.6 million barrels during the week ended on 16 March despite previous estimates of registering a rise.
