Kuwaiti oil price rises by $1.45 per barrel, reaching $78.20

The Kuwait Petroleum Corporation (KPC) reported an increase in the price of Kuwaiti oil on Friday, which rose by $1.45 to reach $78.20 per barrel, compared to $76.75 per barrel on the previous day.

Globally, oil prices also experienced an upward trend. Brent crude futures saw an increase of 83 cents, closing at $79.16 per barrel. Similarly, West Texas Intermediate (WTI) crude rose by 96 cents, settling at $76.19 per barrel.

The rise in oil prices reflects ongoing market dynamics and factors influencing global energy markets. This upward movement in crude prices indicates a positive trend for oil producers, amid fluctuating global demand and supply conditions.