Mubasher: The price of Kuwait’s crude oil decreased by 46 cents to settle at $74.66 per barrel (pb) on Monday compared to $75.12 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

Globally, oil prices grew to the highest level since late 2014 in line with the arising geopolitical raft over Iran and Venezuela.

Investors are awaiting the possibility of imposing additional sanctions on Venezuela following the presidential elections of which the US described as “fake”.