Kuwaiti oil price up 74 cents to USD 46.51 pb

KUWAIT, July 21 (KUNA) -- The price of Kuwaiti oil was up by 74 cents to USD 46.51 per barrel (pb) Thursday after being at USD 45.77 pb the day before, said Kuwait Petroleum Corporation (KPC) Friday.
In the global markets, oil prices fell on Thursday due to volatile trading caused by concerns over the abundance of global supplies as the prices of the Brent crude rose earlier to over USD 50 pb.
The price of the West Texas Intermediate's future contracts for August delivery was down to 46.79 pb, the same case for with the Brent Crude for September delivery which went down by 40 cents to USD 49.30 pb. (end) aam.ha