Kuwait oil rises to $65.1 pb

Mubasher: Kuwait crude oil rose by $0.51, settling at $65.1 per barrel (pb) on Wednesday, compared with 64.59 pb in the preceding session, the Kuwait Petroleum Corporation (KPC) said.

Meanwhile, global benchmark Brent crude futures closed $0.21 lower at $64.06 pb, while West Texas intermediate (WTI) futures settled $0.30 lower at $58.11 pb.

Oil prices retreated globally after the US Energy Information Administration (EIA) reported an unexpected buildup of crude inventories last week.

In addition, gasoline stockpiles climbed, while total US production hit a fresh record.

However, hopes of an interim trade deal between the US and China kept a lid on losses for global oil prices.

Mubasher Contribution Time: 28-Nov-2019 07:44 (GMT)
Mubasher Last Update Time: 28-Nov-2019 07:44 (GMT)