Kuwaiti oil price surges USD 24.46 to reach USD 122.94

Price of Kuwaiti oil surged by USD 24.46, reaching USD 122.94 per barrel (pb) in Monday’s trading, compared with USD 98.48 pb in Friday’s trading, according to Kuwait Petroleum Corporation (KPC) on Tuesday.

Globally, Brent crude rose by USD 7.21 to reach USD 98.96 pb, while US West Texas Intermediate crude increased by USD 3.87 to reach USD 94.77.

— KUNA