Kuwait – Mubasher: The price of Kuwait’s crude oil fell by 34 cents to $54.19 per barrel (pb) on Tuesday, versus $54.53 pb on Monday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).
At the global level, oil prices rose on Tuesday to its highest levels since April on the back of the positive news on extending the oil output cut agreement.
The American Petroleum Institute (API) forecasted the US’ crude inventories to climb last week, in line with a sharp drop in gasoline.
The US’ crude inventories were expected to increase by 519,000 barrels in the week ended 20 October, the API’s initial data showed, according to MarketWatch.
