Mubasher: The price of Kuwait’s crude oil increased by 78 cents to settle at $64.86 per barrel (pb) on Wednesday compared to $64.08 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). 

At the global level, oil prices increased by more than 25% on Wednesday, following a decline in the US crude inventories.  

Nymex crude, April futures, increased by 2.6% to $56.94 pb.