Saturday , June 25 2022

Kuwaiti oil drops to $ 1 a barrel


KUWAIT (KUNA) – The price of a barrel of Kuwaiti oil fell $ 1.555 during trading on Thursday to reach $ 64.6 against $ 65.91 a barrel of trading yesterday at a price announced by Kuwait Petroleum Corporation.

On world markets, oil prices fell yesterday to their lowest level in about seven weeks, following US President Donald Trump's comment on an additional 10 percent tariff on Chinese goods worth up to $ 300 billion as of September 1.

Brent crude futures closed at $ 4.55 to settle at $ 60.55 a barrel, while US crude WTI futures closed at $ 4.63 at $ 53.95 a barrel.

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