The price of Kuwaiti crude oil went down 17 cents to USD 102.19 per barrel (pb) on Tuesday against USD 102.36 pb the day before, the Kuwait Petroleum Corporation (KPC) said Wednesday.
Global oil prices have been affected by recently released economic data by the United States, the world's biggest oil consumer, particularly those related to the rise in economic growth rate to 4.1 percent in the second quarter of the year and a rise in unemployment rate in July by 6.2 percent. The oil prices have been dwindling away amid growing concerns over the security situations in Iraq and different parts of the Middle East.
On Monday, crude oil was traded at USD 98.32 per barrel in the New York Mercantile Exchange (NYMEX) with the highest trading price reaching USD 98.44, while the lowest was at USD 97.44.