LOC08:50
05:50 GMT
Kuwait's crude oil
KUWAIT, April 1 (KUNA) -- Price of Kuwait's crude oil fell USD 0.25 to USD 49.19 per barrel on Tuesday, compared with USD 49.44 pb on Monday, Kuwait Petroleum Corporation (KPC) said on Wednesday.
On global markets, oil prices have fallen for the third consecutive session, against backdrop of the sensitive Iran-West nuclear talks, amid anticipations Tehran might be eventually allowed to increase its crude exports.
Iranian crude exports have reportedly fallen from more than 2.2 million barrels per day (bpd) in 2011 to about 1.3 million bpd because of an oil embargo imposed by the United States and the European Union in response to Tehran's nuclear ambitions.
Meanwhile, Brent crudes lost USD 1.18, some 2.1 percent, settling at USD 55.11 pb, while the American crude concluded the latest session with a USD 1.08 decline, approximately 2.2 percent, settling at USD 47.6 pb. (end)
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