Mubasher: The price of Kuwait’s crude oil declined by 57 cents to settle at $62.29 per barrel (pb) on Tuesday compared to $62.86 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices went down early Wednesday with over 1%, as Brent crude oil, August futures, retreated 1.7% to $61.23 pb,

Also, Nymex crude oil went down 1.8% to $52.31 pb.