Kuwait crude oil up 46 cents Tuesday – KPC

Kuwait crude oil up 46 cents Tuesday – KPC
API has expected US oil inventories to shrink last week

Mubasher: The price of Kuwait’s crude oil increased by 46 cents to settle at $49.49 per barrel (pb) on Tuesday compared to $49.03 pb on Monday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).

The American Petroleum Institute (API) has expected US oil inventories to shrink last week, in line with a rise in the gasoline stock.

The Energy Information Administration (EIA) is projected to disclose the official data regarding the US oil reserves for the past week on Wednesday.

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Source: Mubasher

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