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Kuwait oil prices rise $1.21

Kuwait oil prices rise $1.21
cPhoto Credit: Arabianeye-Reuters

Mubasher: The price of Kuwaiti oil went up by $1.21, Kuwait Petroleum Corporation (KPC) said on Saturday.

Kuwait oil registered $52.01 per barrel (pb) on Friday, compared to $50.80 pb on Thursday, Kuwait News Agency (KUNA) reported.

Meanwhile in international markets, oil prices were affected by the US airstrike on an airbase in Syria, which increased fears of growing conflict in the Middle East region, according to KUNA.

Brent crude oil grew 35 cents to reach $55.24 pb upon settlement, while West Texas Intermediate (WTI) rose by 54 cents to $52.24 pb.