Mubasher: The price of Kuwait’s crude oil dipped by $1.57 on Wednesday, 15 April, reaching $16.67 per barrel (pb) from $18.24 pb a day earlier, according to the official prices released by Kuwait Petroleum Corporation (KPC).
Global crude prices dropped, with NYMEX settling below $20 and hitting an 18-year low after official data revealed that the US inventories surged the most on record by 19.2 million a barrel during the past week.
Meanwhile, Brent crude futures increased by 36 cents or 1.3%, settling at $28.05 a barrel, while the US West Texas Intermediate (WTI) inched up by 10 cents or 0.5% and finished at $19.97.
