The price of the Kuwaiti crude oil closed down to $50.10 per barrel on Wednesday against $51.31 and $52.54 per barrel on Tuesday and Monday respectively, according to data published by Kuwait Petroleum Corporation (KPC).

Brent contracts reached up to $57.54 per barrel, recording a rise by $1.15.

The American crude oil contracts closed down to $48.17 per barrel, losing 12 cents.