Kuwaiti crude oil price jumps by $16.88 per barrel

The price of a barrel of Kuwaiti crude oil rose by approximately $8.73 to $118.10, according to the price announced by the Kuwait Petroleum Corporation, compared to $109.37 per barrel in Tuesday’s trading. Kuwaiti crude had also risen by about $8.15 to $109.37 per barrel on Tuesday, up from $101.22 on Monday, meaning its price jumped by roughly $16.88 over two days. Globally, oil prices held firm after Brent crude surpassed the $100-per-barrel mark, as traders worry about further supply disruptions amid escalating attacks by Iran and the United States on shipping traffic, marking the largest such assaults since the conflict erupted six months ago.