Kuwaiti crude oil prices increased by 53 cents to reach $77.34 per barrel in trading on Friday, up from $76.81 per barrel recorded the previous day, according to data released by Kuwait Petroleum Corporation (KPC) on Saturday. This rise occurred despite downward trends observed in key international benchmarks.

In global markets, Brent crude futures declined by $3.27, settling at $71.99 per barrel. Similarly, the U.S. West Texas Intermediate (WTI) crude fell by $2.69, closing at $69.23 per barrel. The divergent movement between Kuwaiti crude and major international indices reflects ongoing fluctuations and volatility in the global oil market, influenced by a variety of geopolitical and economic factors.

KPC’s report underscores Kuwait’s pricing dynamics amid these broader market trends, highlighting the country’s continued significance as an oil exporter in a competitive international environment. The price adjustment for Kuwaiti crude will have implications for the regional oil industry and could impact supply and revenue strategies in the near term.