Price of Kuwait crude oil went up USD 2.43 to stand at USD 66.84 per barrel in Tuesday's trading compared to USD 64.41 on Monday, Kuwait Petroleum Corporation (KPC) said here on Wednesday.
At global oil markets, the price of crude oil future contracts droped by USD 2 to USD 70.54 points per barrel. US crude oil contracts dipped by USD 2.12 to USD 66.88 per barrel, a drop of 3.07 percent.
This decline in oil prices occurred as the Iraqi government reached on Tuesday a temporary deal with the Kurdistan region authorities to end a dispute over oil exports.
According to the deal, about 300,000 barrels per day are to be exported from Kirkuk via pipelines to Turkey.