Kuwaiti oil price drops $6.98 to $69.34 per barrel

The price of Kuwaiti oil recorded a sharp decline of $6.98 on Tuesday, settling at $69.34 per barrel, down from $76.32 the previous day, according to the Kuwait Petroleum Corporation.

On the global stage, oil markets also saw significant losses. Brent crude futures dropped by $4.34 to close at $67.14 per barrel, while U.S. West Texas Intermediate (WTI) crude fell $4.14, ending the day at $64.37 per barrel, reports Al-Rai daily.