Kuwaiti crude slips to USD 105.3
Kuwait - KUNA
Kuwaiti crude oil lost 71 cents to slip to USD 105. 3 per barrel (pb) in trades Monday compared to last Friday's price of USD 106. 01 pb, said Kuwait Petroleum Corporation on Tuesday. There is a global slip in crude price amid failure of US legislators to reach an agreement to avoid spending cuts and increase of taxes which threaten the world's biggest oil consumer's economy. In NYMEX trading, price of crude for forward trades for February delivery lost 14 cents to reach USD 88.52 pb. This follows a drop of USD 1.47 pb on December 21 to the price of USD 88.52 pb in the biggest drop since December 6. Brent for February delivery also came down by 31 cents to USD 108.66 pb.
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