Mubasher: The price of Kuwait’s crude oil levelled up by 13 cents on Wednesday, reaching $35.46 per barrel (pb), compared to $35.33 pb a day earlier, according to the prices announced by the Kuwait Petroleum Corporation (KPC).

Global oil prices finished at a three-month high after the US Energy Information Association (EIA) had announced a sudden surge in US oil inventories by 5.7 million barrels during the last week.

The jump came despite the US crude output fall by 100,000 barrels per day (b/d) last week.

In the meantime, Brent crude settled higher by 55 cents to stand at $41.73 pb, whilst the US West Texas Intermediate (WTI) rose by 66 cents to $39.60 pb.