Price of Kuwaiti crude oil went down 47 cents to USD 101.72 per barrel (pb) on Wednesday against USD 102.19 pb the day before, the Kuwait Petroleum Corporation (KPC) said on Thursday Meanwhile, international oil markets have witnessed lowest fall of the crudes' prices, since six months ago, with disregard to a report by the US oil reserves' authority that showed a slump in the US reserves, estimated at 1.8 million barrels, amid slowness of operations at the US oil refineries.
The international markets are forecast to be affected with geopolitical events, namely those involving the United States, Russia and Europe, regarding in particular the ongoing crisis in Ukraine.
US crude was traded at the New York bourse, yesterday, at USD 96.98 pb, ranging between USD 94.74 pb and USD 98.13 pb., while the Brent crudes stood at USD 104.75 pb.