Kuwait oil price down 20 cents to USD 67.50 pb

KUWAIT, May 31 (KUNA) -- The price of Kuwaiti went down by 20 cents to USD 67.50 per barrel Thursday as oppose to USD 67.70 pb the day before, said Kuwait Petroleum Corporation (KPC) Friday.
At the global level, the price was down as a result of lack of supplies in the crude market, the increasing political tension in the Middle East region, and the slow growth in world economy due to the US-China trade dispute.
The price of the Brent crude was down by 59 cents to USD 68.86 per barrel, the same case with the West Texas Intermediate, which went down by 12 cents to USD 58.93 pb. (end) ad.gta