Kuwait oil price down by 15 cents to $51.72 pb | kuwaittimes

KUWAIT: A general view shows the Shuaiba oil refinery yesterday. Oil workers plan to go on strike today in protest against what they call the government’s plan to cut their annual benefits and bonuses. — Photo by Yasser Al-Zayyat

Kuwait oil price down by 15 cents to $51.72 pb

By Kuwait Times

January 04, 2017 | 10:36 p.m EDT

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.

January 04, 2017 10:36 PM

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