Kuwaiti oil price up 43 cents to USD 60.95 pb

KUWAIT, Price of Kuwait’s crude oil went up 43 cents to stand at USD 60.95 per barrel (pb) on Tuesday compared to USD 60.52 pb Monday, said Kuwait Petroleum Corporation (KPC) on Wednesday.

In global markets, oil prices trimmed gains in volatile trading on Tuesday, amid concerns that demand might weaken due to the US-China trade dispute and jitters that Russia might remain a stumbling block against an agreement to cut global crude supplies.

The US and China have recently reached a 90-day “truce” agreement over their trade dispute — namely tit-for-tat tariffs’ hikes.

Meanwhile, Brent crude went up 39 cents to settle at USD 62.08 pb, as well as US crude oil, increasing 30 cents to settle at USD 53.25 pb.

Source: Kuwait News Agency