KUWAIT: Price of the Kuwaiti crude oil rose $1.62 to $63.61 per barrel in trades, compared to $61.99 pb, Kuwait Petroleum Corporation (KPC) said here the other day.
In the international oil markets, the crude prices have gradually risen throughout course of the year, due to slump in the US crude reserves for the first time in January, in addition to the bearish US dollar. In the London bourse, the Brent crude contracts rose, at settlement, 25 cents, reaching $67.77pb, while in the New York market, the forward deals of the American crude climbed 53 cents to $60.93pb.