Kuwait city: The price of Kuwaiti oil rose by $6.58 to reach $163.08 per barrel in Monday's trading compared to $156.50 on Friday.

According to Qatar News Agency, the Kuwait Petroleum Corporation reported the increase in oil prices. In global markets, Brent crude futures rose $2.40 to $108.81 a barrel, while US West Texas Intermediate crude futures rose $0.64 cents to $98.96.