Kuwaiti oil prices fall 11 cent to USD 123.05 pb

Price of Kuwaiti crude fell 11 cents to USD 123. 05 per barrel on Monday, in comparison to USD 123.16 pb on Friday, the state-run Kuwait Petroleum Corporation (KPC) said Saturday. The Kuwaiti crude price dropped amid prevailing jitters on international markets over the global economy due to negative figures of China's exports, the world's second largest economy and the second consumer of energy after the US. Prices of oil are forecast to drop, during this week, as a result of Iranian-western negotiations . The rates of the crude have been unstable due to various geopolitical factors, the Iranian question and speculations on the international energy markets.