Mubasher: The price of Kuwait’s crude oil increased by $1.44 to settle at $73.14 per barrel (pb) on Wednesday compared to $71.7 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices increased to register its highest level in more than three years and a half, following the data released on the US stock inventories.

The price of the US crude oil inclined after the announcement of a decline by 9.9 million barrels in the US crude stock, this drop was the fastest in a week since the beginning of 2018.