Kuwait – Mubasher: Kuwait Petroleum Corporation (KPC) said that the price per barrel of Kuwaiti oil continued its decline on Tuesday, falling $0.77 to $46.94 per barrel compared to Monday’s closing at $47.71 per barrel.

Dr. Ali Al-Omair, Kuwait’s minister of oil and who doubles as state minister for national assembly affairs, said the oil price decline was not only affected by the supply and demand regulations but also by regional and global political factors.

Mixed Brent fell $0.90 on Tuesday to $53.11 per barrel, while US futures lost $0.05, reaching $43.83 per barrel at settlement.