Kuwait oil price dropped 83 cents to USD 32.74 per barrel on Monday compared to USD 33.29 pb in Friday's trades, Kuwait Petroleum Corporation (KPC) said on Tuesday.

    Oil prices on the international markets fell by three percent on Monday against backdrop of American reserves' rise and Iran's negligence of major producers' freezing of output at January's level, according to Kuwait News Agency (KUNA).

    Meanwhile, the Brent Blend declined upon settlement by 86 cents reaching 39.53 pb. American crude oil also decreased by USD 1.32 settling at USD 37.18 per barrel.