Kuwaiti oil breaks the $101 per barrel barrier

The price of a barrel of Kuwaiti crude oil rose noticeably in trading on Monday, climbing by $3.12 to reach $102.22 per barrel, compared with $98.10 in last Friday’s trading, according to the official price announced by the Kuwait Petroleum Corporation. On global markets, this upward trend was reflected in energy stock exchanges, with Brent crude futures rising by $1.03 to close at $97.31 per barrel. In the same vein, West Texas Intermediate (WTI) crude futures in the United States rose by $1.17 to record $92.65 per barrel, amid ongoing investor anticipation regarding supply and demand data and global inventory movements.