Price of Kuwaiti crude oil barrel rose USD 0.76 reaching USD 50.67 per barrel on Wednesday, compared to USD 49.91 per barrel on Tuesday, according to Kuwait Petroleum Corporation (KPC) Thursday.
Crude oil prices went down yesterday due to a number of factors namely the increase of US crude reserves from to 413.06 barrels, a number unprecedented in the last 30 years.
The US Brent mix went up to 6.5 percent, reaching USD 54.16 per barrel while the price for US crude went down by nine percent settling at USD 48.45 per barrel.