Kuwait oil price rises 52 cents to $36.10pb

Kuwait Times - - BUSINESS -

KUWAIT: The price of Kuwaiti oil went up by 52 cents to reach $36.10 per bar­rel Thurs­day af­ter it was $35.58 pb the day be­fore, said a state­ment by Kuwait Petroleum Cor­po­ra­tion yes­ter­day.

In the world mar­kets, fu­ture con­tracts of crude oil went up by 12 cents to reach $44.30 per bar­rel while the West Texas crude price was stable at $40.54 per bar­rel. Since mid-2014, crude oil con­tracts lost 60 per­cent of their value due to the in­crease in sup­plies by 0.7 per­cent, around 2.5 mil­lion bar­rels. The sup­plies in­crease might re­main as an is­sue in 2016. — KUNA

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