Kuwait crude oil price down to $93.97 per barrel

GMT 14:22 2014 Wednesday ,01 October

Arab Today, arab today Kuwait crude oil price down to $93.97 per barrel

Kuwaiti crude oil
Kuwait - KUNA

Price of the Kuwaiti crude oil per barrel lost a single cent dropping to USD 93.97 in Tuesday's trades in contrast to USD 93.98 on Monday, Kuwait Petroleum Corporation (KPC) said in a statement on Wednesday.
On the international markets, the crude prices posted record fall, since two years ago, where contracts of the Brent crudes for November's delivery fell to USD 94.67 pb, losing USD 2.53, some 2.60 percent.
American light crude shed USD 3.41, falling to USD 91.16 pb, the greatest decrease since November 2012, thus concluding the Q3 with a fall of 12 percent, the first such record since two years ago.
Drastic drop of the oil prices has coincided with the highest bullish trend by the US dollar, vis a vis the basket of hard currencies, since four years ago, and the highest against the euro since two years ago.
Noticeable rise of supplies from the Middle East, Africa and the United States contributed to the bearish trend of the crude prices; a factor that has also alleviated fears with respect of forecast disruption of the oil supplies from these regions, currently gripped with dramatic political and military conflicts.

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