Price of Kuwaiti oil dropped USD 1.29 to settle at USD 82.61 per barrel on Wednesday compared with USD 83.90 pb the day before, Kuwait Petroleum Corporation (KPC) said in on Thursday. Globally, the price of Brent crude rose by 70 cents to USD 81.71 pb, while West Texas Intermediate crude rose by 63 cents to USD 77.59 pb. Oil prices settled higher on Wednesday, supported by large declines in US crude and fuel stocks, as well as growing supply risks from Canadian wildfires, but hovered close to their lowest level in six weeks due to concerns over weak global demand. The US Energy Information Admiration said that US crude oil inventories fell by 3.7 million barrels last week, while gasoline stocks fell by 5.6 million barrels and distillate stocks, which includes diesel and heating oil, fell by 2.8 million barrels. Source: Kuwait News Agency
Related Articles
President Abbas Orders Publication of First Draft of Interim Constitution
Ramallah: President Mahmoud Abbas has issued a presidential decree mandating the publication of the first draft of the Interim Constitution of the State of Palestine. The draft will be accessible for public review through an electronic platform establ…
Mathaf Presents ‘Shahid’ Art Exhibition Documenting Crimes of Israeli Aggression on Gaza
Doha: May 06 – Today, Mathaf: Arab Museum of Modern Art opened ‘Khalid Albaih: Shahid’ Exhibition, a new project space exhibition featuring Sudanese artist and political cartoonist Khalid Albaih.
This exhibition, on view from 6 May 2024 to 10 August …
Jordan, Brazil foreign ministers talk Gaza ceasefire
Foreign Minister Ayman Safadi expressed in a phone call with Brazilian Foreign Minister Mauro Vieira Jordan’s solidarity after floods in Brazil that killed scores and displaced thousands.
Safadi conveyed the condolences of His Majesty King Abdullah I…