The price of Kuwaiti oil went up by 45 cents to US$49.30 per barrel Tuesday after being at US$48.85 pb the day before, said Kuwait Petroleum Corporation on Wednesday.

According to Kuwait News Agency, KUNA, the prices at the global level were down due to data showing an increase in US oil reserves last week by 1.8 million barrels. The price of Brent crude was down to US$52.28 per barrel as in the case of the West Texas Intermediate, which was also down to US$49.84 pb

source:wam