Mubasher: The price of Kuwait's crude oil recorded $14.72 per barrel (pb) on Tuesday, 21 April, down by $2.27 from $16.99 a barrel a day earlier, according to Kuwait Petroleum Corporation’s (KPC) official prices.
Global oil prices extended their losses on Tuesday amid fears over a slowdown in demand and oil glut as storage space runs low.
The US West Texas Intermediate (WTI) futures for May, which expired last Tuesday, soared by 125% to settle at $10.1 pb after registering $-37.63 pb by the end of the session. WTI June futures fell by 43.4% to settle at $11.75 pb.
Meanwhile, Brent futures for June also plunged by 26.3% to finish at $18.80 a barrel.
