Kuwaiti oil barrel drops 19 cents, reaches $81.04

GMT 02:00 2014 Thursday ,30 October

Arab Today, arab today Kuwaiti oil barrel drops 19 cents, reaches $81.04

Kuwaiti oil
Kuwait - KUNA

The price of Kuwaiti oil barrel dropped 19 cents on Tuesday, reaching USD 81.04 compared to USD 81.23 per barrel on Monday, said Kuwait Petroleum Corporation (KPC) on Wednesday.
International oil markets were affected by continuous negative reports on the US economy, the largest country in energy consumption, showing a drop in the demand on consumers' durable goods during last September.
Meanwhile, the international markets are awaiting the reports of the US Energy Information Administration (EIA) on the rate of reserves in the USA, set to be released later today. Experts are expecting an increase in the reserves' rates, leading to a drop in oil prices.
Crude oil contracts for December delivery were traded at USD 81.76 pb in New York Mercatile Exchange (NYMEX), while Brent crude oil was traded at USD 86.33 pb for December delivery as well.

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