Mubasher: The price of Kuwait’s crude oil fell by 56 cents to $28.05 per barrel (pb) on Wednesday from $28.61 pb on Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC).

Globally, Brent crude oil for July delivery retreated by 4.6% or $1.65 to settle at $34.52 pb, while US NYMEX crude futures for July delivery dropped by 4.5% or $1.54 to $32.81 pb.