Kuwait oil price falls
(MENAFN- Kuwait News Agency (KUNA)) Kuwait oil price dropped 58 cents to USD 60.41 per barrel on Wednesday as compared to USD 60.99 pb on Tuesday, Kuwait Petroleum Corporation said on Thursday.
In the international markets, forward crude deals have slumped due to a prevailing market glut, huge hike of refined reserves, namely diesel, in the United States, coinciding with the summer onset and amid predictions regarding the upcoming OPEC's conference.
The Brent crudes for the July contracts dropped upon settlement, by USD 1.69, some 2.6 percent, reaching USD 63.80 pb. The American crude forwards also dropped, by USD 1.62, 2.6 percent, to USD 59.64 pb.
In the international markets, forward crude deals have slumped due to a prevailing market glut, huge hike of refined reserves, namely diesel, in the United States, coinciding with the summer onset and amid predictions regarding the upcoming OPEC's conference.
The Brent crudes for the July contracts dropped upon settlement, by USD 1.69, some 2.6 percent, reaching USD 63.80 pb. The American crude forwards also dropped, by USD 1.62, 2.6 percent, to USD 59.64 pb.
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