Mubasher: The price of Kuwait’s crude oil increased by $1.24 to settle at $59.58 per barrel (pb) on Monday compared to $58.34 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices declined by more than 3%, as Nymex slid to its lowest level in ten days.

The price of the US crude oil was impacted negatively in line with commercial and political tension as well as worries over a slowdown in the global economic growth.