Kuwaiti oil price down 27 cents to USD 78.01 pb

KUWAIT, The price of Kuwait crude oil went down on Tuesday 27 cents to stand at USD 78.01 per barrel (pb) after it was at USD 78.28 pb last Monday, said Kuwait Petroleum Corporation (KPC) Wednesday.

Globally, oil prices rose as a result of the support of the geopolitical tensions despite concerns over long term prospects.

The price of the Brent crude went up 63 cents to settle at USD 81.41 pb, the same case with the West Texas Intermediate, which rose 14 cents to reach USD 71.92 pb.

Source: Kuwait News Agency