The price of a barrel of Kuwaiti oil registered an uptick of 13 cents on Wednesday, reaching $84.93 per barrel in trading. The Kuwait Petroleum Corporation announced this figure, revealing a positive market sentiment, reported Al-Jarida Daily.
Comparatively, the price of a barrel of Kuwaiti oil stood at $84.80 during trading a day prior. This marginal increase suggests a slight boost in demand for the Middle Eastern nation’s crude oil.
Meanwhile, global markets experienced further gains, with Brent crude futures surging by $1.42 to $83.10 per barrel. The rise in demand for Brent crude, known for its high quality, reflects growing confidence among investors.