Kuwaiti Oil Price Falls Nearly $7 Amid Decline in Global Crude Markets

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Kuwaiti Oil Price Falls Nearly $7 Amid Decline in Global Crude Markets

Kuwait City, May 26 (QNA) – The price of Kuwaiti crude oil fell by $6.98 to $113.83 per barrel in trading on Tuesday, down from $120.81 in the previous session, according to figures released by the Kuwait Petroleum Corporation.

Global oil markets also recorded notable losses, with Brent crude futures dropping $7.24 to settle at $96.30 per barrel.

US West Texas Intermediate crude futures also declined, falling $6.30 to $90.88 per barrel.

The decline comes amid continued volatility in global energy markets as investors monitor economic conditions, demand expectations, and geopolitical developments affecting oil supply and prices. (QNA)