Kuwaiti Oil Barrel Down 40 Cents, Reaches USD 50.31 pb

Kuwait, Kuwaiti oil barrel dropped 40 cents to reach USD 50.31 per barrel on Tuesday, compared to USD 50.71 pb on Monday, said the Kuwait Petroleum Corporation (KPC) on Wednesday.

Meanwhile, oil prices rose in international markets due to expectations of a severe drop in US crude reserves. However, prices saw a slight drop as Libya announced the re-opening of two pipelines that were closed for two years, according to (KUNA) news agency.

Brent crude oil rose 43 cents reaching USD 55.35 per barrel, while West Texas Intermediate went up 11 cents to reach USD 52.12 pb.

Source: Qatar News Agency