Kuwaiti oil is down 70 cents, to close to $ 42...

Kuwait – Mubasher: The price of a barrel of Kuwaiti oil fell on Monday, by 70 cents, to $ 42.05, compared to $ 42.75 last Friday, according to the price announced by the Kuwait Petroleum Corporation.

Globally, oil prices rose upon settlement of trading yesterday, in conjunction with gains in global stocks that were supported by hopes regarding the approval of a US financial stimulus package.

Nymex crude rose 0.9%, or 35 cents, to settle at $ 40.60 a barrel. The benchmark Brent crude rose 1.1%, or 46 cents, to settle at $ 42.87 a barrel.

The matter that threatens the continued rise of crude is mainly represented by the increase in cases of the new Coronavirus (Covid 19), which reinforces fears about a recovery in demand for crude, which may reduce the gains in black gold.

Russian Energy Minister Alexander Novak said that the global oil market has stabilized in the past few months, but he warned of the risks of a second wave of infections with the Corona virus.

Despite efforts by OPEC and its allies to restrict production, more crude is being exported from OPEC members Iran and Libya.

On the other hand, the violent clashes taking place between the two neighbors, Armenia and Azerbaijan, which erupted early this week, may increase concerns about stability in the South Caucasus, which is a corridor for pipelines that transport oil and gas to global markets.

(Edited by Mohamed Farouk)


Kamco Invest is “exiting an Amazon warehouse in Scotland.”

Ships “win two contracts of” Kuwait Oil “worth 6.3 million dinars

464 One million dollars is the value of trade exchange between Kuwait and Oman

These were the details of the news Kuwaiti oil is down 70 cents, to close to $ 42... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT US Fed holds key rate steady for fourth straight meeting