KPC: Kuwait oil price up USD 1.41 to USD 78.7 pb

The Kuwaiti oil price rose by USD 1.41 to USD 78.7 per barrel (pb) on Friday, compared to USD 77.29 pb the previous day, Kuwait Petroleum Corporation (KPC) announced on Saturday.

Globally, the price of Brent crude fell by 36 cents to USD 79.04 pb, and West Texas Intermediate crude also went down by 29 cents to USD 75.56 pb.

In the U.S., the world’s top oil consumer, hurricane Milton slammed into Florida’s already storm-blasted west coast Wednesday evening, causing nearly 2,000 Florida gas stations to run out of fuel and leaving more than 3.4 million houses and companies without power.

The U.S. Labor Department reported Thursday that applications for jobless claims shot up by 33,000 to 258,000 for the week of October 3, which is the most since August 5, 2023 and well above the 229,000 analysts were expecting.

Source: Kuwait News Agency