Kuwait oil price drops to US$59.20 pb

KUWAIT, Kuwaiti oil price dropped 88 cents to US$59.20 per barrel on Wednesday compared with $60.08 pb Tuesday, Kuwait Petroleum Corporation said in a statement on Thursday.

In international markets, the Brent crude contracts posted fall by $2.71, settling at $56.23 pb, the Kuwait News Agency, KUNA, has reported.

West Texas crude oil contracts shed $2.54, thus the price for a barrel fell to $51.09.

Source: Emirates News Agency