Kuwait oil price down to USD 34.29 pb

KUWAIT Price of the Kuwaiti crude oil went down USD 1.83, reaching USD 34.29 pb Thursday against USD 36.12 pb the day before, Kuwait Petroleum Corporation (KPC) announced Friday.

In global markets, Brent crude dropped seven percent Thursday after a travel ban to Europe was in place by US president Donald Trump due to the World Health Organization (WHO) declaration that the coronavirus epidemic has turned into a pandemic.

Brent crude dropped USD 2.57, settling at USD 33.22 pb, while the West Texas Intermediate has shed USD 1.48 to close at USD 31.50 pb.

Source: Kuwait News Agency