The price of Kuwaiti oil increased by $1.56, reaching $73.15 per barrel in trading on Tuesday. This marks a notable rise from Monday’s closing price of $71.59 per barrel, according to data released by Kuwait Petroleum Corporation.
Global crude prices follow upward trend
International oil benchmarks also saw significant gains. Brent crude rose by $2.47 to settle at $72.51 per barrel, while West Texas Intermediate (WTI) climbed by $2.50, reaching $69.21 per barrel.
The broader rebound in oil markets is seen as a reaction to shifting expectations around global supply constraints and demand outlooks. Although no official commentary accompanied the pricing shift, analysts point to tightening inventories and potential disruptions as contributing factors.
Market sentiment strengthens amid supply dynamics
Oil prices have remained volatile in recent weeks, reflecting ongoing uncertainties in macroeconomic trends and geopolitical risks. Nevertheless, the latest uptick suggests a return of bullish sentiment, particularly in response to improving refinery demand and seasonal consumption patterns.
Despite concerns about global growth, energy markets continue to adjust in response to changing fundamentals. With supply-side pressures still a factor, further fluctuations in crude prices may follow in the coming days.
