Kuwait Petroleum prices reach new heights. They are currently at their highest level in seven years. On Saturday, it was trading at $123.38 per barrel. This represents a 21 cent increase over the previous day.
Brent crude oil rose $ 3 to $ 120.07 per barrel globally. West Texas Intermediate rose from $ 2.96 to $ 118.55. Oil-producing countries like Kuwait are relieved by rising oil prices. Oil prices have risen since the end of the conflict between Russia and Ukraine.
Prices have risen due to both the end of the Covid crisis, and the active opening up of markets in different countries. In 2022, oil prices will surpass $ 100 per barrel after 2014.