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Kuwait’s crude oil drops 68 cents on Wednesday – KPC

Kuwait’s crude oil drops 68 cents on Wednesday – KPC
Global oil prices closed Wednesday’s session with a volatile performance

Mubasher: The price of Kuwait’s crude oil decreased by 68 cents to settle at $70.06 per barrel (pb) on Wednesday compared to $70.74 pb, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices closed Wednesday’s session with a volatile performance, as Nymex closed Wednesday with the lowest level in eight months in line with the data released regarding crude oil inventories and a surge in the US oil production.

Nymex, December futures, declined by 0.9% to $61.67 pb.

Brent, January futures, settled at $71.12 pb.