The price of Kuwaiti oil rose by $1.05 to reach $76.98 per barrel in trading on Friday, compared to $75.93 per barrel in trading the previous day, Thursday, according to the price announced by the Kuwait Petroleum Corporation.

In global markets, Brent crude futures fell by 86 cents to reach $73.18 per barrel, while West Texas Intermediate (WTI) crude futures dropped by 59 cents to settle at $69.76 per barrel.