Kuwait crude oil edged 48 cents higher in Monday's trading to reach USD 74.32 per barrel compared with USD 73.84 pb last Friday, Kuwait Petroleum Corporation (KPC) said Tuesday. Benchmark Brent futures for November dropped 21 cents to USD 71.77 pb while Brent futures for December gained 27 cents to 71.81 pb. West Texas Intermediate dropped one cent to USD 68.71 pb. Oil markets lost 17 percent in value in the third quarter due to geopolitical tension in the Middle East and its possible impacts on oil supplies. Brent lost 3.7 percent last week and WTA declined by five percent. Source: Kuwait News Agency
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