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Kuwaiti oil barrels end Tuesday at $65.47 pb–KPC

Kuwaiti oil barrels end Tuesday at $65.47 pb–KPC
Kuwaiti barrels settled at $65.47 per barrel

Mubasher: Kuwait crude oil edged up by $0.6, settling at $65.47 per barrel (pb) on Tuesday, the Kuwait Petroleum Corporation (KPC) said on Wednesday.

This came after Kuwaiti barrels recorded $65.41 pb in the prior session,

Globally, crude prices ended Tuesday on a higher note, as markets watched the US-Sino trade developments and ahead of the weekly report on US oil stockpiles to be released later on Wednesday.

US Nymex crude futures ended last session at $59.24 pb, $0.22 higher, while global benchmark Brent futures hit $64.34 pb, gaining $0.9.

Washington was reportedly weighing a delay to a round of tariffs on Chinese products, scheduled to take effect on 15 December.

On the supply side, members of the Organization of the Petroleum Exporting Countries (OPEC) and allied producers agreed to further cut their output by 1.7 million barrels per day (bpd) as from next year until March.

The producer club is due to release its monthly Oil Market Report (OMR) later in the day.