Kuwait oil price up 58 cents to USD 61.69 pb

The price of Kuwaiti oil went up by 58 cents to USD 61.69 per barrel Monday as oppose to USD 61.11 pb last Friday, said Kuwait Petroleum Corporation (KPC) Tuesday.

Globally, the price of oil went down due to stocks at Wall Street falling by more than one percent. Also playing part in the decrease was the increase of crude supplies, which caused investors to be cautions while dealing in the energy sector.

The price of the Brent crude went down by 16 cents to USD 66.05 per barrel, the same case with the West Texas Intermediate, which went down by USD 62.06 pb.

Source: Kuwait News Agency