KUWAIT OIL PRICE UP 40 CENTS TO USD 53.27 PER BARREL

Kuwait, The price of Kuwaiti oil went up by 40 cents to USD 53.27 per barrel Friday after being at USD 52.87 per barrel Thursday, Kuwait Petroleum Corporation (KPC) said Saturday. At the global level, the price of oil went up after the US imposed sanct…

Kuwait, The price of Kuwaiti oil went up by 40 cents to USD 53.27 per barrel Friday after being at USD 52.87 per barrel Thursday, Kuwait Petroleum Corporation (KPC) said Saturday.

At the global level, the price of oil went up after the US imposed sanctions on Iran due to the latter country testing a ballistic missile.

Reports regarding an increase in demand for energy resources also played part in the increase, Kuwait News Agency (KUNA) reported.

The Brent crude went up by 25 cents to USD 56.81 per barrel, the same case with the West Texas Intermediate which went up by 29 cents to USD 53.83 per barrel. (QNA)

Source: Qatar News Agency