Kuwaiti oil price up to $49.30 pb

The price of Kuwaiti oil went up by 45 cents to $49.30 per barrel Tuesday after being at $48.85 pb the day before, said Kuwait Petroleum Corporation (KPC) yesterday. The prices at the global level were down due to data showing an increase in US oil reserves last week by 1.8 million barrels. The price of the Brent crude was down to $52.28 per barrel as in the case of the West Texas Intermediate, which was also down to $49.84 pb. —KUNA