Kuwaiti crude oil price at USD 99.60 - KPC

KUWAIT, Sept 2 (KUNA) -- The price of Kuwaiti crude oil went up by one cent in yesterday's transactions, reaching the level of USD 99.60 a barrel compared to USD 99.59 the day before, according to oil prices announced by Kuwait Petroleum Corporation (KPC) on Tuesday.
Meanwhile, in the international market, the price of the crude Brent oil went down to USD 103 per barrel Monday due to the slow industrial growth in Europe and China despite the availability of fuel.
Oil supplies still are exceeding the demands of the global market which are negatively affecting prices. Analysts said that the price will go up due to advent of the winter season. (end) asj.gta