Kuwait oil price drops 79 cents to $39.82pb

Kuwait Times - - BUSINESS -

KUWAIT: Kuwait oil price dropped 79 cents on Mon­day reach­ing $39.82 per bar­rel as com­pared to $40.61 pb on Fri­day, Kuwait Petroleum Cor­po­ra­tion said yes­ter­day. In global oil mar­kets, oil prices fell about one per­cent yes­ter­day (Sun­day), con­tin­u­ing bear­ish trend for the fourth con­sec­u­tive day, due to the in­crease in US oil stocks and ex­pected high record out­put by Rus­sia and Saudi Ara­bia. Like­wise, the Brent Blend shed 23 cents drop­ping to $47.19 pb, as well as the Amer­i­can crude which lost 42 cents, set­tling at $43.87 pb.

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