Kuwait Petroleum Corporation (KPC) has declared that the Kuwaiti oil stood at $51.72 per barrel on Wednesday, compared to $51.46 per barrel on Tuesday; rising by about 26 cents.

Meanwhile, Brent long-term contracts rose by 5% on Wednesday.

Additionally, the price of Brent crude oil April delivery reached $61.63 per barrel; rising by $2.97.

Furthermore, the US crude oil for April delivery was trading $1.71 higher, reaching $50.99 per barrel.