Kuwaiti oil price down 40 cents to USD 48.28 pb| MENAFN.COM

Sunday, 05 February 2023 11:07 GMT

Kuwaiti oil price down 40 cents to USD 48.28 pb


(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Aug 30 (KUNA) -- The price of the Kuwaiti oil dropped by 40 cents to settle at USD 48.28 per barrel (pb) Tuesday compared with USD 48.68 pb last Monday, said Kuwait Petroleum Corporation (KPC) Wednesday.

At the global level, oil prices were down more than 1.5 percent due to a decline in US crude oil as Hurricane Harvey is wreaking havoc in the Gulf of Mexico. The storm affected 16 percent of US oil operations and production.

The price of the West Texas Intermediate's future contracts for September delivery went down by USD 62 to reach USD 45.95 per barrel, the same case for the Brent crude's future contracts for October delivery, which went down 20 cents to reach USD 51.69 pb. (end) aam.nhq

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