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Kuwait oil price up 1.05 cents to US 32.06 pb


4/7/2016 7:41:10 AM

(MENAFN- Emirates News Agency (WAM))

KUWAIT 7th April 2016 (WAM) -- Price of Kuwait crude oil went up 1.05 cents on Wednesday to US$ 32.06 per barrel against US$ 31.01 pb on Tuesday Kuwait Petroleum Corporation said on Thursday.

Kuwait News Agency KUNA said that in international markets oil prices increased by five percent yesterday following the United States announcement of a sudden retreat in local oil reserves last week of around five million barrels as the local oil refineries continued to increase production while oil imports retreated.

Contracts of the Brent Blend increased yesterday by US$ 1.97 to reach 39.84 pb while US crude oil increased by US$ 1.86 to reach US$ 37.75 pb.


WAM/Esraa/AAMIR


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