Kuwaiti oil price hits $79.85
The price of a barrel of Kuwaiti oil rose to $79.85, an increase of $2.51 from the previous price, according to the Kuwait Petroleum Corporation. Meanwhile, the prices of Brent futures contracts climbed to $73.91, and West Texas Intermediate to $70.75, amid market focus on possible talks between Iran and the U.S. in Doha. Additionally, the Minister of Oil announced the issuance of a decree to amend the Petroleum Corporation Law, which is considered a significant step toward developing its legal framework.
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