Mubasher: The price of Kuwait’s crude oil increased by 83 cents to settle at $71.76 per barrel (pb) on Monday, compared to $70.93 on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil futures were trading higher on Tuesday, but gains were held in check amidst escalating trade tensions between the US and China, according to Reuters.

By 6:45 am GMT Brent Crude oil futures for July increased by 0.4% to $70.53 pb, whereas Nymex oil futures for July deals decreased by 0.3%, reaching $61.23 pb.