Kuwaiti crude price down $1.44 to $107.04 per barrel

The price of Kuwaiti crude oil dropped USD 1.44 settling at USD 107.04 per barrel on Tuesday compared to USD 108.48 pb on Monday, said Kuwait Petroleum Corporation in a statement on Wednesday. Oil prices in global markets also continued to fall after a military strike against the Syrian regime seems unlikely, and concerns about the lack of oil supplies in the Middle East gradually subside. Oil futures for next October delivery in NYMEX dropped 70 cent settling at USD 105.89 pb, while Brent oil futures for October delivery also dropped USD 1. 40 to USD 108.67 pb.