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Kuwait’s crude oil jumps $5.63 on Monday - KPC

Kuwait’s crude oil jumps $5.63 on Monday - KPC
Brent futures closed Monday up by 48 cents

Mubasher: The price of a barrel of Kuwait’s crude oil surged by $5.63 on Monday to finish at $33.01 when compared to $27.38 last Friday, according to the official prices of the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices fell in a volatile session amid intensifying tensions between the US and China, the two world’s largest economies, and ahead of the upcoming OPEC+ meeting.

Brent futures closed yesterday up by 48 cents or 1.3%, settling at $38.32 per barrel (pb), whereas the US West Texas Intermediate (WTI) futures slipped five cents or 0.1% to reach $35.44 pb.