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The price of a barrel of Kuwaiti oil fell by USD 1.05, reaching USD 63.68 per barrel in trading on Tuesday, compared to USD 64.73 on Monday, according to the price announced by the Kuwait Petroleum Corporation on Wednesday. In global markets, the settlement price of Brent Crude futures fell 93 cents to USD 62.39 a barrel, while US West Texas Intermediate crude futures also fell 79 cents to USD 58.70.

Oil prices rose on Thursday, snapping a three-day losing streak and rebounding from 16-week lows. Brent Crude futures gained 15 cents, or 0.2%, to $65.50 a barrel. US West Texas Intermediate crude climbed by 14 cents, or 0.2%, to $61.92 a barrel. On Wednesday, Brent and WTI both lost about 1%, with Brent closing at its lowest since June 5 and for WTI since May 30. Crude inventories rose by 1.8 million barrels to 416.5 million barrels in the week ended on September 26.

Oil prices climbed in early trade on Monday, trimming some of last week's losses, after OPEC+ agreed to slow the pace of output increases from October amid expectations of weaker global demand. Brent Crude gained 34 cents, or 0.5%, to $65.84 a barrel, while US West Texas Intermediate (WTI) crude rose 30 cents, or 0.5%, to $62.17 a barrel. Both benchmarks fell more than 2% on Friday as a weak US jobs report dimmed the outlook for energy demand. They lost more than 3% last week. Under the new OPEC+ decision, eight member countries will lift production by 137,000 barrels per day (bpd) starting in October, far below the monthly increases of about 555,000 bpd for September and August, and 411,000 bpd in July and June.