Kuwait city: Kuwait's crude oil price surged by $7.45 to $120.62 per barrel in Wednesday's trading, up from $113.17 per barrel the previous session, according to data released by the Kuwait Petroleum Corporation.

According to Qatar News Agency, in global markets, Brent crude futures rose by $5.57 to reach $118.35 per barrel, while US West Texas Intermediate (WTI) crude fell by $1.50 to $101.38 per barrel.