The price of Kuwaiti crude oil rose by $1.01 to reach $74.20 per barrel in trading on Wednesday, compared to $73.19 per barrel in the previous day's trading, according to the price announced by the Kuwait Petroleum Corporation.

In global markets, Brent crude futures fell by $1.74 to settle at $69.30 per barrel, while West Texas Intermediate (WTI) crude futures dropped by $1.95 to reach $66.31 per barrel.