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Kuwait oil price rises

KUWAIT: Price of the Kuwaiti crude oil rose 67 cents to reach USD 54.44 per barrel on Wednesday, as compared to USD 53.77 pb on Tuesday, Kuwait Petroleum Corporation said yesterday. In the international markets, the Brent crudes dropped USD 1.46, 2.5 percent, reaching USD 57.05 pb. Meanwhile, the American crude price also dropped, by USD 1.63, some three percent, settling at USD 51.41 pb. The crude prices on the international markets have moved down despite fall of the American crude reserves, by some 4.3 million barrels, last week, while the US refineries upped operations to record levels. — KUNA

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This article was published on 17/07/2015