(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, May 23 (KUNA) -- The price of Kuwaiti oil went down 45 cents to USD 71.65 per barrel (pb) last Wednesday after being at USD 72.10 pb the day before, Kuwait Petroleum Corporation (KPC) said Thursday.
In global markets, oil prices went down last Wednesday after an unexpected surge in US crude reserves, as investors are concerned that a trade dispute between Washington and Beijing could undermine long-term demand for crude.
The price of the Brent crude went down USD 1.19 to stand at USD 70.99 pb, the same case with the West Texas Intermediate, which also went down USD 1.71 to settle at USD 61.42 pb. (end)
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