Kuwaiti oil price down USD 1.24 to USD 60.39 pb

KUWAIT– The price of Kuwaiti crude oil went down USD 1.24 yesterday, settling at USD 60.39 per barrel (pb), compared to USD 61.46 pb last Tuesday, said Kuwait Petroleum Corporation (KPC) Thursday.

In world markets, oil prices were down yesterday after the big jump of fuel reserve in the US cushioned the sharp fall in crude reserve and the record-high production levels.

The Brent Blend was down 90 cents to stand at USD 62.44 pb, same as the Texas light sweet, which went down 54 cents, settling at USD 56.60 pb.

Source: Kuwait News Agency