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Kuwait’s crude oil down to $35.33 pb – KPC

Kuwait’s crude oil down to $35.33 pb – KPC
Global oil prices advanced by around 2% on Tuesday

Mubasher: The price of Kuwait’s crude oil amounted to KWD 35.33 per barrel (pb) on Tuesday, down by $2.19 from KWD 37.52 pb a day earlier, according to the prices released by the Kuwait Petroleum Corporation (KPC).

Global oil prices advanced by around 2% in a volatile session with signs of gradual ease of restrictions imposed against the coronavirus (COVID-19) outbreak.

The crude prices increased after the US Energy Information Administration (EIA) expected the US crude oil production to decline in 2020 and 2021.

Brent futures closed up by 38 cents or 0.9% and reached $41.18 pb, whilst the US West Texas Intermediate (WTI) futures rose 75 cents or 2%, settling at $38.94 pb.