Published On: Sat, Nov 22nd, 2014

Kuwait crude oil price drops to USD 72.24 pb

Oil

Oil

Price of Kuwait crude oil per barrel dropped USD 0.16 to USD 72.24 pb in Thursday’s trading compared to USD 72.40 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said on Friday.
The drop in global oil prices on Thursday have been influenced by a report of US Energy Information Administration (EIA) showing a rise in US oil reserve, reaching 2.5 million barrels. Meanwhile, a rise in the exchange rate of US dollar driven by the report of US Federal Reserve’s meeting has contributed to impacting oil prices and causing losses to each barrel price, yet the report has not set a certain time to raise profit.
In trades in the American crude oil, in New York on Thursday, the price stood at USD 74.68 pb.

Source : KUNA Kuwait News agency

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