Mubasher: Kuwaiti crude oil prices rose on Wednesday by $0.93 to $65.27 per barrel (pb), versus $64.34 pb on Tuesday, according to the Kuwait Petroleum Corporation’s (KPC) latest data.

At the global level, oil prices increased by 2.7% yesterday, recording the highest level in more than a month as the US crude oil inventories for the week ended 21 June fell sharply by 12.8 million barrels from the previous week.

Crude oil futures closed Wednesday at the highest level since 22 May, with August Nymex WTI adding $1.55, or 2.7%, to close at $59.38 pb.