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Kuwait’s crude oil drops 28 cents on Monday – KPC

Kuwait’s crude oil drops 28 cents on Monday – KPC
The US has exempted eight countries from sanctions on importing Iranian oil

Mubasher: The price of Kuwait’s crude oil decreased by 28 cents to settle at $70.74 per barrel (pb) on Monday when compared to $71.02 pb in the previous session, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices shrank on Tuesday in line with the US decision to allow some countries to continue purchasing crude oil from Iran.

The US has exempted China along with seven other countries, Greece, India, Italy, Japan, South Korea, Taiwan, and Turkey, from sanctions on importing Iranian oil for six months.