Kuwait crude oil price down to $88.35 per barrel
Oil drums
Kuwait - KUNA
The price of Kuwait crude oil per barrel went down USD 1.25 to stand at USD 88.35 pb Tuesday compared to USD 89.60 the day before, said Kuwait Petroleum Corporation Wednesday.
This decline was due to lower demand on petroleum products and an ample of world oil supplies which drove prices to hit its lowest in months.
US oil prices and Brent prices also fell as a weekly inventory data was released today, showing a rise in oil supplies.
Brent November futures slipped to USD 92.11 pb while futures for November delivery on the New York Mercantile Exchange traded at USD 88.85 pb.
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