Mubasher: The price of Kuwait’s crude oil decreased by $2.61 to settle at $67.25 per barrel (pb) on Tuesday compared to $69.86 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices declined by more than 7% with Nymex falling to the lowest level in a year.

The US crude oil decreased for the 12th session in a row to register the longest series of declines on a daily basis in line with worries over a slowdown of demand and an increase in oil supply.