Mubasher: The price of Kuwaiti crude oil fell by $4.19 during Wednesday’s trading session, according to Kuwait Petroleum Corporation’s (KPC) official prices.
Meanwhile, the price fell to $64.28 per barrel (pb) from $68.47 pb on Tuesday.
Globally, oil prices registered more than 2% decline on Wednesday, following the Saudi reassurances regarding supplies shortage and the announcement of the US inventories’ data.
Unlike expectations, the US oil inventories rose, while the oil output stabilised near its highest level in history, the US Energy Information Administration (EIA) announced.
By the end of Wednesday’s session, US Nymex futures for October slipped by 2.1% to $58.119 pb.
Earlier on Thursday, Brent futures for November slid by 1.9% to $63.22 a barrel.
