Kuwait city: The price of Kuwaiti crude oil rose by $1.29 to reach $71.71 per barrel in Friday’s trading, compared to $70.42 per barrel in Thursday’s session, according to the price announced by the Kuwait Petroleum Corporation.

According to Qatar News Agency, global markets saw a decline, with Brent crude futures falling by 50 cents to $68.12 per barrel, and West Texas Intermediate (WTI) futures dropping by 59 cents to $64.01 per barrel.

The rise in Kuwaiti crude is in contrast to the downward trend observed in other major benchmarks in the global oil market. The fluctuation in oil prices is a significant indicator for economies reliant on oil exports, and the movement in Kuwaiti crude prices may have implications for the country’s economic strategies.