Mubasher: The price of Kuwait’s crude oil slipped by $3.42 on Tuesday, 29 January, to settle at $60.15 per barrel (pb) from $63.57 pb on Friday, according to Kuwait Petroleum Corporation’s (KPC) official prices.       

Globally, oil prices levelled up in the last six consecutive sessions for the first time, as markets recovered amid the coronavirus outbreak.  

In the meantime, crude prices were backed by the flourishing Wall Street stocks. Moreover, several reports revealed that OPEC and its allies may deepen their oil reduction amid worries over a slowing demand due to the coronavirus spread.  

Brent futures rose by 19 cents to reach $59.51 pb on Tuesday, while US West Texas Intermediate crude levelled up by 34 cents to settle at $53.48 pb.