The price of the Kuwaiti oil fell by $0.13 to settle at $62.08 per barrel (pb) on Wednesday from $62.21 pb on Tuesday, according to the official prices published by the Kuwait Petroleum Corporation (KPC).
Globally, oil prices rose during Thursday’s trading sessions, as trade tensions began to de-escalate.
The US President Donald Trump decided to delay tariff hike on $250 billion worth of Chinese goods until 15 October instead of 1 October.
The said delay came as a gesture of goodwill to China, Trump noted.
Earlier on Thursday, Brent futures for November levelled up by 0.5% to $61.13 pb.
The US Nymex futures for October edged up by 0.6% to $56.10 pb.