Mubasher: The price of Kuwait’s crude oil decreased by 69 cents to settle at $58.41 per barrel (pb) on Monday compared to $59.1 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices decreased by more than 2.5% with Nymex crude falling to the lowest level of $50 pb for the first time in 14 months.