Mubasher: Kuwait oil price went down by $1.25 on Tuesday, 4 February, to settle at $55.68 per barrel (pb) from $56.93 pb a day earlier, according to the official prices of Kuwait Petroleum Corporation (KPC).   

On the global level, oil prices dipped by 1% on Tuesday, with Nymex falling to a level below $50 pb for the first time in a year, amid worries over lower demand and growing coronavirus fears.  

Brent crude inched down by 0.9% or 49 cents to finish at $53.96 pb, while the US West Texas Intermediate retreated by 1% or 50 cents to settle at $49.61 pb.