The price of Kuwaiti crude oil dipped USD O.51 in yesterday’s (Friday) transactions to settle at the level of USD 104.33 compared to USD 104.84 in last Thursday’s transactions, Kuwait Petroleum Corporation (KPC) said on Saturday.
Oil markets’ price gyrations have been of late caused by a number of factors, not the least of which is the precarious political situation in East Ukraine and the lowering of the price of US crude futures contracts , which occurred most noticeable yesterday.
US light crude spot or settlement price dropped USD 0.87 to level off at USD 102.71 per barrel, whereas the spot price for Brent crude reached USD 109.41, a reduction of USD 0.56.
Source : KUNA Kuwait News agency
