Kuwaiti oil price drops to $102.89 pb
Kuwait - KUNA
Price of Kuwaiti crude oil dropped USD 10 cents settling at USD 102.89 per barrel in Tuesday's trades, compared to USD 102.99 pb the previous day, Kuwait Petroleum Corporation (KPC) said on Wednesday.Meanwhile, international markets' strategists are adopting a wait-and-see attitude with regard of the US financial incentives' program, as well as official reports about the crude reserves.The US Federal Reserve is expected to withdraw USD 10 billion, per month, with anticipations that rate of the greenback would turn bullish vis a vis the other major currencies. Moreover, the forecast report regarding rise of the US crude reserves by 2.25 million barrels would contribute to decreasing oil prices.Meanwhile, the crude prices in the New York commercial market stood at USD 96.98 pb.
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