LOC09:22
06:22 GMT
Kuwaiti oil barrel
KUWAIT, April 16 (KUNA) -- The price of Kuwaiti oil barrel rose by USD 1.05 on Wednesday, reaching USD 55.35, compared to USD 54.30 per barrel on Tuesday, said Kuwait Petroleum Corporation (KPC) on Thursday.
Meanwhile, the prices of forward oil contracts rose in the international markets yesterday, after a lower-than-expected rise in the US oil reserves.
The rise of prices was also affected by reports on a decrease in the oil production rate in North Dakota, US, as well as the current war in Yemen and the tension in several Middle Eastern countries.
As for London's Stock Exchange, the prices of Brent crude oil rose to USD 1.89 (3.23 percent) upon settlement, reaching USD 60.32 pb, while the prices of US crude oil contracts rose to USD 3.10 (5.82) upon settlement, reaching USD 56.39 in New York Mercantile Exchange (NYMEX).(end)
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