KUWAIT: The price of Kuwaiti oil went down by 15 cents Tuesday to reach $51.72 per barrel as oppose to $51.87 pb last Friday, said Kuwait Petroleum Corporation (KPC) yesterday. At the global level, the price of oil went down after the US dollar made gains, reaching levels unprecedented since 2002.
The situation led investors to sell shares to gain profit. The price of the Brent Crude went down by $1.35 to settle at $55.47 per barrel. The price of the West Texas Intermediate also went down by $1.39 to settle at $52.33 per barrel.