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Kuwaiti oil retreats to $60.5 pb on Monday - KPC

Kuwaiti oil retreats to $60.5 pb on Monday - KPC
Brent futures for December edged down by 0.08% to $58.91 pb

Mubasher: The price of Kuwait’s crude oil fell by 50 cents to $60.5 per barrel (pb) on Monday, 21 October, when compared to $61 pb on Friday, according to the official prices of Kuwait Petroleum Corporation (KPC).

The global prices decreased on Tuesday amid concerns over a slowdown in demand in line with global trade tensions.

Meanwhile, Brent futures for December edged down by 0.08% to $58.91 pb, while Nymex futures for November shed 0.2% to $53.20 pb.

The American Petroleum Institute (API) will announce the initial inventory data for the last week later today.