News Column

Kuwaiti crude down 57 cents to USD 106.94 pb

June 18, 2014

KUWAIT, June 18 (KUNA) -- The price of Kuwaiti crude oil went down 57 cents in yesterday's trading and stood at USD 106.94 per barrel (pb) compared to USD 107.51 pb the day before, Kuwait Petroleum Corporation (KPC) said on Wednesday.

Meanwhile, the international market was affected by the US monetary decision to decrease the bond selling program by USD 10 billion. The current price was set at USD 35 billion rather than USD 85 billion as planned in 2013.

This new turn of events would enable the US dollar to compete with other major currencies which would also result in the decrease of price of US crude oil. (end) mjb.tb.gta

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Source: Kuwait News Agency

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