Kuwait oil price up to USD 81.26 pb

KUWAIT, The price of Kuwaiti oil went up USD 1.31 pb to reach USD 81.26 pb on Tuesday, compared to USD 79.95 pb on Monday, according to Kuwait Petroleum Corporation (KPC) on Wednesday. On a global scale, the Brent crude futures' contracts went down USD 1.61 pb to settle at USD 80.69 pb, as did the West Texas Intermediate, which went down USD 1.71 pb to USD 78.35 pb. In its monthly report, the International Energy Agency (IEA) kept its predictions of global oil demand growth for 2024 unchanged but trimmed its estimate for 2025, noting the impact of weak Chinese consumption on global economic growth. Markets await the US CPI report, which will give a crucial reading of inflation rates there. Source : Kuwait News Agency