Kuwait oil price down 72 cents to USD 72.90 pb

The price of Kuwaiti oil was down by 72 cents to USD 72.90 per barrel (pb) on Monday after it was at USD 73.62 pb last Friday, said the Kuwait Petroleum Corporation (KPC) Tuesday.

Prices went down globally as well, with selling deals ongoing in light of spike in US production and possibility of growth in international supply due to trade tensions.

The price of the Brent Blend went down USD 1.50 to USD 75.29 pb, the same case with the West Texas Intermediate, which shed USD 1.06 to USD 64.75 pb.

Source: Kuwait News Agency