Mubasher: The price of Kuwait oil went up by 42 cents yesterday, according to the Kuwait Petroleum Corporation (KPC).

Kuwaiti oil reach $48.69 per barrel (pb) on Thursday, compared to $48.27 pb on Wednesday, as reported by the Kuwait News Agency (KUNA).

Globally, the price of the American crude went down by 2% on Thursday due to the threat posed by Hurricane Harvey against energy facilities located in the Gulf of Mexico.

The price of the West Texas Intermediate’s (WTI) contracts for September delivery decreased by 98 cents to settle at $47.43 pb, while Brent crude futures for October delivery declined by 53 cents to $52.04 pb.