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Kuwait’s crude oil up $1.37 pb on Tuesday - KPC

Kuwait’s crude oil up $1.37 pb on Tuesday - KPC
Global crude prices plunged by more than 54% on Tuesday

Mubasher: The price of Kuwait’s crude oil increased by $1.37 on Tuesday, 31 March, to settle at $25.7 per barrel (pb), compared with $24.33 pb last Monday, according to official prices released by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices hit their worst monthly and quarterly level and plunged by more than 54% last Tuesday amid the coronavirus (COVID-19) crisis and the Saudi Arabia-Russia price war.

Crude prices incurred losses of around 54.2% month-on-month (MoM) and sank by 66.4% on a quarterly basis amid weakening demand and oversupply.