Kuwait crude price down 49 cents to $104.21

Kuwaiti crude oil price was down 49 cents to USD 104.21 pb on Tuesday compared to USD 104.70 pb last Monday, Kuwait Petroleum Corporation (KPC) said on Wednesday. The international oil markets suffered a noticable decline in crude prices affected by the US government shut down, after members of the Senate led by the Democratic and Republican-led House of Representatives could not reach a settlement of the government's budget loaded with loans. The international markets also witnessed a slowdown in the rate of expansion in the China Manufacturing Purchasing Managers' Index, -being the second largest economy in the world, and second largest consumer of crude oil worldwide after the US, in addittion to the slowdown in expansion of the indices in Germany- the largest economy in euro zone- and the United Kingdom, during last September, which stimulated a state of restraint among investors, and forced them to abandon speculation in crude oil prices. The oil futures at New York Mercantile Exchange (NYMEX) settled yesterday at USD 101.28 pb, reaching its lowest at USD 101.12 pb, and its highest by USD 102.55 pb