Kuwaiti oil price down 96 cents to settle USD 41.84 pb

Kuwaiti oil price down 96 cents to settle USD 41.84 pb
Kuwaiti oil price down 96 cents to settle USD 41.84 pb

KUWAIT, May 20 (KUNA) — The barrel price for Kuwaiti oil went down Thursday by 96 cents to settle USD 41.84 per barrel after being at USD 42.80 pb the day before, said Kuwait Petroleum Cooperation (KPC) Friday.
In the global market, the price of oil yesterday was relatively stable despite some problems facing Canadian and Nigerian oil supplies. The strength of the US dollar and expectation that the Federal Reserve would increase the interest rates by June also played a factor in the stability of the price.
The Brent mix price was down 12 cents to settle at USD 48.81 per barrel, a similar case was with the June and July contracts for the American crude which went down by 3 and 11 cents to settle at USD 48.16 and USD 48.67 pb respectively. (end) ht.gta

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