(MENAFN- Kuwait News Agency (KUNA)) US crude oil futures for January delivery continued to retreat in Asia trading on Monday by 1.17 percent to reach USD 65.07 pb compared to last Friday's price.
Brent crude oil futures for January delivery went down by 1.09 percent, to stand at US 68.32 pb compared to its price last Friday.
The price difference between US light crude and Brent crude reached around USD 3.25.
Crude oils continue to retreat in Asian trading following a US declaration to continue raising the oil production amid boom in shale oil output, which resulted in a sharp competition in oil markets, especially with Saudi which reduced the oil prices to protect its market share.
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