The recent rebound in oil prices was largely due to a healthy US jobs report for April, which helped to ease concerns about a potential US economic recession.
Kuwait is the fourth-largest producer of crude oil in the world, and its price movements have a direct effect on global oil markets. Kuwaiti crude oil
Brent crude futures dropped $2.01, or 2.4%, to $80.77. Earlier in the day, the global benchmark hit a session low of $78.34, marking its lowest price since early January. Meanwhile, U.S. West Texas Intermediate crude futures (WTI) fell $1.88, or 2.5%, to $74.80 a barrel. WTI had earlier hit a low of $72.30 a barrel, […]
