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Kuwaiti oil rises 80 cents on Wednesday - KPC

Kuwaiti oil rises 80 cents on Wednesday - KPC
December Brent futures went down by 0.4%

Mubasher: The price of Kuwait’s crude oil inched up $0.80 to $60.88 per barrel on Wednesday when compared to $60.08 pb a day earlier, according to the official prices of Kuwait Petroleum Corporation (KPC).

Globally, oil prices were down during Thursday’s session. December Brent futures went down by 0.4% to $60.95 pb, while December US Nymex futures fell 0.6% at $55.62 pb.

On Wednesday, oil prices marked the highest finish in a month as the US Nymex increased by 2.7% at $55.97 pb.

Meanwhile, economic data revealed that the US inventories have retreated for the first time in six weeks by 1.7 million barrels a day to 433.2 million barrels during the week ended on 18 October.