The price of Kuwaiti oil went up by US$1.02 to $50.75 per barrel Wednesday after being at $49.73 pb the day before, the Kuwait Petroleum Corporation, KPC, said on Thursday morning.

According to the Kuwait News Agency, at the global level, the prices went up due to the re-opening of several US refineries after Hurricane Harvey dissipated, which led to optimism concerning the recovery global supplies.

The price of the Brent Crude was up by 82 cents to US$54.20 per barrel, the same case with the West Texas Intermediate, which went up by 50 cents to $49.16 pb.