Kuwait crude oil dropped 41 cents during Tuesday’s trading sessions to reach USD 83.90 per barrel compared to USD 84.31 pb the day before, Kuwait Petroleum Corporation (KPC) said Wednesday.
Benchmark Brent lost USD 1.39 dropping to USD 81.01 pb and West Texas Intermediate declined USD 1.44 to USD 76.96 pb.
Oil prices dropped two percent yesterday amidst growing fears about demands in China after Beijing’s central bank lowered interest rate by 10 points to 3.85 percent in a bid to stimulate the economy.
Source: Kuwait News Agency