News Column

Kuwaiti crude price up 72 cents to USD 102.70 pb

May 11, 2014

KUWAIT, May 10 (KUNA) -- The price of Kuwaiti oil went up 72 cents, reaching USD 102.70 per barrel in Friday's trading, compared to USD 101.98 pb the day before, Kuwait Petroleum Corporation (KPC) said in a statement Saturday.

Oil prices went down in international markets amidst investors' anticipation of the Ukrainian crisis outcome. The prices are also being affected by the lack of improvement in the Libyan oil supplies. The rise of the US dollar against other main currencies also played a role in bringing oil prices down.

In London's stock exchange, Brent contracts for June delivery went down 15 cents to USD 107.89 per barrel while US crude oil futures in the New York Mercantile Exchange (NYMEX) went down 27 cents to USD 99.99 per barrel.(end)

All KUNA right are reserved

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Kuwait News Agency