Kuwait Oil Price Up 1.05 cents to $ 32.06 per barrel

Price of Kuwait crude oil went up 1.05 cents on Wednesday to $32.06 per barrel against $ 31.01 per barrel on Tuesday, Kuwait Petroleum Corporation said on Thursday. 
In international markets, oil prices increased by five percent yesterday, following the United States announcement of a sudden retreat in local oil reserves last week, of around five million barrels, as the local oil refineries continued to increase production while oil imports retreated. 
Contracts of the Brent Blend increased yesterday by $ 1.97 to reach $ 39.84 per barrel, while US crude oil increased by $ 1.86 to reach $ 37.75 per barrel.