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Kuwait’s crude oil retreats to $26.11 pb on Monday - KPC

Kuwait’s crude oil retreats to $26.11 pb on Monday - KPC
Global prices jumped by more than 3% on Monday

Mubasher: The price of Kuwait’s crude oil decreased by $4.33 on Monday, 23 March, to stand at $26.11 per barrel (pb) compared to $30.44 pb last Friday, according to the official prices by the Kuwait Petroleum Corporation (KPC).

Global oil prices jumped by more than 3% on Monday after the US Federal Reserve said that it will launch a barrage of programmes in an attempt to help markets face the coronavirus (COVID-19) crisis.

In the meantime, Brent futures levelled up by five cents to finish at $27.03 pb, while the US West Texas Intermediate’s (WTI) futures for May inched up by 73 cents or 3.2% to reach $23.36 pb.