Mubasher: The price of Kuwait’s crude oil levelled down by 30 cents to settle at $63.19 per barrel (pb) on Wednesday compared to $63.49 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices declined on Wednesday as Nymex crude oil registered its lowest level in four weeks following the announcement of the US crude inventories.

Nymex crude oil decreased by 2.5% to $61.79 pb, registering the lowest level since 8 January 2018.

The US Energy Information Administration (EIA) noted that the US crude reserves increased by 1.9 million barrels during the week ended on 2 February.