Mubasher: The price of Kuwait’s crude oil lowered by 92 cents on Monday to reach $59.84 per barrel (pb) from $60.76 pb on Friday, according to the price shown by the Kuwait Petroleum Corporation (KPC).

Globally, the price of crude oil hiked on Tuesday, supported by the positive trade announcements regarding the US-China crisis.

On Monday, the US President Donald Trump stated that China is ready to return to the negotiating table. Earlier on Tuesday, the price of Brent crude futures of October inched up by 0.3% to $58.89 pb.

Also, the price of Nymex futures of October went up by 0.3% to reach $53.82 pb.