Mubasher: Kuwait's crude oil price fell by 31 cents to $59 per barrel (pb) on Wednesday, 9 October, from $59.31 pb on Tuesday, according to the official prices of Kuwait Petroleum Corporation (KPC).

Globally, oil prices decreased as the US inventory data was released and amid anticipation for geopolitical trade developments.  

Unlike expectations, the US oil inventories rose by 2.9 million barrels during the past week, whereas fuel inventories retreated.

Meanwhile, the US oil output hiked to its highest level at 12.600 million barrels a day.