Mubasher: The price of Kuwait’s crude oil slipped by 17 cents on Tuesday to reach $56.58 per barrel (pb) when compared to $56.75 pb last Monday, according to official prices released by Kuwait Petroleum Corporation (KPC).
Global prices also fell to a two-week low by around 3% on Tuesday for the third consecutive session as fears on a slowdown in demand intensify due to coronavirus (COVID-19) worries.
In the meantime, Brent crude declined by $1.35 or 2.4% to finish at $54.95 pb, while the US West Texas Intermediate (WTI) slid by $1.53 or 3% to settle at $49.9 pb.
