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Kuwait oil price down by USD 2.18 to USD 54.40 pb

Kuwait oil price down by USD 2.18 to USD 54.40 pb
KUWAIT, Feb 27 (KUNA) -- The price of Kuwaiti oil fell by USD 2.18 to USD 54.40 pb Wednesday, compared with USD 56.58 pb last Tuesday, said Kuwait Petroleum Corporation (KPC) Thursday.
Globally, oil prices hit a one-year drop on Wednesday due to fears over the novel Coronavirus (COVID-19) outbreak.
The price of Brent crude dropped USD 1.52 to USD 53.43 pb, down 2.77 percent, while West Texas Intermediate lost USD 1.17 to USD 49.90 pb, down 2.34 percent. (end) km.amh.mt