The price of Kuwaiti crude oil went up USD 1.49 per barrel (pb) on Tuesday to reach USD 105.64 pb, said Kuwait Petroleum Corporation (KPC) on Wednesday. A state of tug and pull prevailed over the market yesterday due to speculative activity and investors waiting for fresh data, as it is now obvious the recently hailed hard-won deal between Iran and the P5+1 over Tehran's nuclear activity would not result in any immediate rise in supply from Iran to "flood the market" as some had feared. In London, BRENT forward price declined USD 0.12 pb upon settlement yesterday to come to USD 110.88 pb, while the US crude lost USD 0.41 pb to reach USD 93.68 pb in New York. In general, BRENT outdid West Texas Intermediate crude most of the time and the margin between the two benchmark crudes came to its highest in eight months at USD 17.2 pb.
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OPEC Basket Price Stood, at over $65.2, on ThursdayMaintained and developed by Arabs Today Group SAL.
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Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
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