Kuwait city: The price of Kuwaiti oil increased by USD 1.30, reaching USD 71.42 per barrel on Friday. This marks a rise from the previous price of USD 70.12 per barrel recorded last Thursday, as reported by the Kuwait Petroleum Corporation (KPC).

According to Qatar News Agency, the prices of Brent crude and West Texas Intermediate experienced declines. Brent crude decreased by USD 1.15, settling at USD 69.21 per barrel, while West Texas Intermediate fell by USD 1.47, ending at USD 66.98 per barrel.

This change in the oil market reflects the ongoing fluctuations in global oil prices, impacting various stakeholders in the energy sector. The adjustment in prices is closely monitored by market analysts and investors, as it influences economic dynamics and strategic planning within the industry.