Published On: Sun, Jan 11th, 2015

Kuwaiti oil barrel drops 29 cents, reaches USD 43.21



The price of Kuwaiti oil barrel dropped 29 cents reaching USD 43.21 on Friday, compared to USD 43.50 per barrel on Thursday, said Kuwait Petroleum Corporation (KPC) on Saturday.
Oil prices in international markets had dropped yesterday. The price of Brent crude and the American crude had recorded their lowest rates since April 2009.
Prices of Brent crude declined 85 cents, reaching USD 50.11 pb, while the American crude oil fell 43 cents, reaching USD 48.36 pb.
Brent crude has lost about 11 percent of its value this week, while the American crude lost about eight percent. Oil prices have been slumping on the international markets for the seventh week in a raw, despite a temporary recovery from their lows after a sharp drop in the US oil rig count.

Source : KUNA Kuwait News agency

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