Kuwait oil price down to USD 56.58 pb

KUWAIT, Feb 26 (KUNA) -- The price of Kuwaiti oil fell by 17 cents to USD 56.58 pb Tuesday, compared with USD 56.75 pb last Monday, said Kuwait Petroleum Corporation (KPC) Wednesday.
Globally, oil prices edged down by three percent due to fears over the novel Coronavirus (COVID-19) outbreak.
The price of Brent crude dropped USD 1.35 to USD 54.95 pb, down 2.4 percent, while West Texas Intermediate lost USD 1.53 to USD 49.90 pb, down 3 percent. (end) km.amh.mt