Kuwaiti oil jumps $15.44 to $132.68 per barrel amid global energy turmoil

2026-03-14 - 07:36

The price of Kuwaiti crude oil surged sharply in the latest trading session, rising by $15.44 to reach $132.68 per barrel, according to the official price released by Kuwait Petroleum Corporation. The increase follows the previous session’s price of $117.24 per barrel, reflecting strong volatility in global energy markets amid geopolitical tensions and supply concerns. In international markets, Brent crude futures climbed $8.48 to settle at $100.46 per barrel, while West Texas Intermediate crude rose $9.34 to $96.59 per barrel, reports Al-Rai daily. The surge comes as governments and energy markets react to disruptions in global supply, with United States authorities temporarily allowing the sale of sanctioned Russia oil. At the same time, several countries have begun drawing on strategic reserves, with around 400 million barrels released worldwide to stabilize markets.