Kuwait oil price climbs to USD 34.38 pb

KUWAIT, March 18 (KUNA) — Kuwait oil price rose USD 2.03 to USD 34.38 per barrel on Thursday against USD 32.35 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said on Friday.
In international markets, American crude forwards reached high levels for the fifth week in a row, due to mounting optimism that major producers will work out a new deal to freeze output, while the prices moved up due to low interest.
The American crude rose three cents reaching USD 40.32 pb. Meanwhile, the Brent Blend nearest contracts also climbed to USD 41.56 pb, as the Brent price reached USD 41.54 pb, rising by USD 1.21. (end) ht.abd.rk