Mubasher: The price of Kuwait’s crude oil increased by 34 cents to settle at $67.55 per barrel (pb) on Tuesday compared to $67.21 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices increased on Wednesday before disclosing the data on the US crude oil inventories.

On Tuesday, American Petroleum Institute (API) said the crude oil reserves decreased by 2.1 million barrels to 446.8 million barrels during the week ended on 15 March.